South Carolina § 42-7-10 - Establishment of State Accident Fund; contents.
Full text of South Carolina South Carolina Code of Laws § 42-7-10 — Establishment of State Accident Fund; contents., with citation guidance and answers to common questions.
§ 42-7-10. Establishment of State Accident Fund; contents.
(A) There is established as a separate agency of state government a separate fund to be known as the State Accident Fund, hereinafter referred to as the "fund" or "state fund" in this article. This fund consists of annual premium charges, recoveries from the Second Injury Fund, recoveries by subrogation and, subject to subsection (B), of all income or revenue derived from investing these funds. Receipts for the credit of the fund and expenditures from the fund must be handled in the manner provided by law governing all state funds.
(B) One-third of the investment income generated in Fiscal Year 1990-91 and two-thirds of the income generated in Fiscal Year 1991-92 must be credited to the state fund in those years respectively. Thereafter all such income must be credited to the state fund except that the State Treasurer may charge the state fund, and credit to the general fund, the customary investment management fee.
HISTORY: 1962 Code SECTION 72-451; 1952 Code SECTION 72-451; 1947 (45) 147; 1974 (58) 2237; 1989 Act No. 189, Part II, SECTION 22A, eff June 8, 1989 (became law without the Governor's signature); 1993 Act No. 181, SECTION 987, eff July 1, 1993.
Editor's Note
1993 Act No. 181, SECTION 996, eff July 1, 1993, provides as follows:
"SECTION 996. Upon the effective date of this act, the State Workers' Compensation Fund shall be known as the State Accident Fund, and, other than as provided in Article 1, Chapter 7, Title 42 of the 1976 Code, Section 42-7-10 through Section 42-7-100 of this act, any other reference which may be contained in the 1976 Code of Laws or other statutes to the 'State Workers' Compensation Fund' shall be deemed to mean, and shall be changed to, the 'State Accident Fund'."
Source: official South Carolina text · Last verified 2026-08-27
Frequently Asked Questions About South Carolina § 42-7-10
What does South Carolina Code of Laws § 42-7-10 cover?
Section 42-7-10 ("Establishment of State Accident Fund; contents.") is part of the South Carolina Code of Laws, the codified statutory law of South Carolina. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite South Carolina § 42-7-10?
A common citation format is "South Carolina Code of Laws § 42-7-10" (South Carolina). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of South Carolina law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the South Carolina official source linked on this page or consult a licensed South Carolina attorney.
How does South Carolina § 42-7-10 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in South Carolina can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in South Carolina.