S.C. Code Ann. § 54-3-1020
This is the official text of S.C. Code Ann. § 54-3-1020, part of South Carolina’s Code Ann — part of the compiled statutory law of South Carolina, published by the state as "Code Ann." Browse the sections below, each linked to its official government source.
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SECTION 54-3-1020. Disbursement of funds; surplus.
Official statutory text
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.
Status: in_force · Read it on the official government site
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