South Carolina Statutes
§ 54-3-1020 — Disbursement of funds; surplus.
All funds of the Authority shall be deposited in a bank or banks to be designated by the Authority. Funds of the Authority shall be paid out only upon warrants signed by the treasurer of the Authority and countersigned by the chairman or the acting chairman. No warrants shall be drawn or issued disbursing any of the funds of the Authority except for a purpose authorized by this chapter and only when the account or expenditure for which they are to be given in payment has been audited and approved by the Authority. Any and all net revenues or earnings not necessary or desirable for the operation of its business shall be held subject to the further action of the General Assembly.
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South Carolina § 54-3-1020 (Disbursement of funds; surplus.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
HISTORY: 1962 Code SECTION 54-62; 1952 Code SECTION 54-62; 1942 (42) 1535.
Nearby Sections
15
§ 54-3-101
Executive Director of Port Operations.§ 54-3-1010
Issuance of bonds.§ 54-3-1020
Disbursement of funds; surplus.§ 54-3-1030
State port construction fund.§ 54-3-1040
Annual financial statement.§ 54-3-1050
Property of Authority exempt from taxation.§ 54-3-1060
Transaction register.§ 54-3-115
Development of port in Jasper County.§ 54-3-117
North Charleston container terminal.