S.C. Code § 50-3-740

Current through 2024 Act No. 225.

Section 50-3-740 - Limitations and restrictions on expenditures from fund

The fund constitutes a special trust derived from a contractual relationship between the State and the members of the public whose investments contribute to the fund. In recognition of the special trust, the following limitations and restrictions are placed on expenditures from the fund:

(1) Any limitations or restrictions specified by the donors on the uses of the income derived from the gifts, grants, and voluntary contributions are respected but are not binding.

(2) No expenditure or disbursement may be made from the principal of the fund except as otherwise provided by law.

(3) The income received and accruing from the investments of the fund must be spent only in furthering the conservation of wildlife resources and the efficient operation of the department in accomplishing the purposes of the department as set forth in this title.

S.C. Code § 50-3-740

1993 Act No. 181, Section 1258; 1989 Act No. 101, Section 1.