South Carolina § 59-109-40 - Educational Facilities Authority for Private Nonprofit Institutions of Higher Learning.
Full text of South Carolina South Carolina Code of Laws § 59-109-40 — Educational Facilities Authority for Private Nonprofit Institutions of Higher Learning., with citation guidance and answers to common questions.
§ 59-109-40. Educational Facilities Authority for Private Nonprofit Institutions of Higher Learning.
There is hereby created a body politic and corporate to be known as the "Educational Facilities Authority for Private Nonprofit Institutions of Higher Learning," hereinafter in this chapter called the authority. The authority is constituted a public instrumentality and the exercise by the authority of the powers conferred by this chapter must be deemed and held to be the performance of an essential public function. The authority shall consist of the members from time to time of the State Fiscal Accountability Authority, ex officio; and all the functions and powers of the authority are hereby granted to the State Fiscal Accountability Authority, as an incident of its functions in connection with the public finances of the State.
HISTORY: 1962 Code SECTION 22-41.3; 1969 (56) 444; 1975 (59) 47; 2014 Act No. 121 (S.22), Pt VII, SECTION 20.N, eff July 1, 2015.
Effect of Amendment
2014 Act No. 121, SECTION 20.N, twice substituted "Fiscal Accountability Authority" for "Budget and Control Board", and made other nonsubstantive changes.
Source: official South Carolina text · Last verified 2026-08-27
Frequently Asked Questions About South Carolina § 59-109-40
What does South Carolina Code of Laws § 59-109-40 cover?
Section 59-109-40 ("Educational Facilities Authority for Private Nonprofit Institutions of Higher Learning.") 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 § 59-109-40?
A common citation format is "South Carolina Code of Laws § 59-109-40" (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 § 59-109-40 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.