South Carolina § 41-43-20 - Definitions.
Full text of South Carolina South Carolina Code of Laws § 41-43-20 — Definitions., with citation guidance and answers to common questions.
§ 41-43-20. Definitions.
As used in this chapter unless the context otherwise requires:
(A) "Act" means the South Carolina Jobs - Economic Development Fund Act.
(B) "Authority" means the South Carolina Jobs - Economic Development Authority, which is a state-owned enterprise.
(C) "Administrative funds" means all monies, received by the authority from the general fund of the State or from the exercise of the power of taxation by the State or any of its political subdivisions which are designated specifically to be used for the payment of administrative expenses, and the earnings on the funds.
(D) "Bonds" means any evidence of indebtedness of the authority in any form including, but not limited to, notes, warrants, bonds, or any similar obligation evidenced in written, printed, or electronic means.
(E) "Program funds" means any monies, including, but not limited to, the proceeds from bond sales, the sale or disposition of any assets, or any other source available to the authority, other than administrative funds and the earnings on the funds.
(F) "Banks" means financial organizations organized, chartered, or holding an authorization certificate and subject to supervision by an agency or official of South Carolina or of the United States and authorized to make loans and receive deposits. It includes but is not limited to savings and loan associations and savings banks.
HISTORY: 1983 Act No. 145 SECTION 3; 1992 Act No. 404, SECTION 1, eff July 1, 1992.
Effect of Amendment
The 1992 amendment, in item (C) added "which are designated specifically to be used . . . . funds."; and in item (E) added "and the earnings on the funds."
Frequently Asked Questions About South Carolina § 41-43-20
What does South Carolina Code of Laws § 41-43-20 cover?
Section 41-43-20 ("Definitions.") 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 § 41-43-20?
A common citation format is "South Carolina Code of Laws § 41-43-20" (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 § 41-43-20 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.