South Carolina § 59-40-120 - Dissolution of charter school.
Full text of South Carolina South Carolina Code of Laws § 59-40-120 — Dissolution of charter school., with citation guidance and answers to common questions.
§ 59-40-120. Dissolution of charter school.
Upon dissolution of a charter school, its assets may not inure to the benefit of any private person. Any assets obtained through restricted agreements with a donor through awards, grants, or gifts must be returned to that entity. All other assets become property of the sponsor.
HISTORY: 1996 Act No. 447, SECTION 2; 2002 Act No. 341, SECTION 1; 2006 Act No. 274, SECTION 1, eff May 3, 2006.
Effect of Amendment
The 2006 amendment reprinted this section with no apparent change.
Source: official South Carolina text · Last verified 2026-08-27
Frequently Asked Questions About South Carolina § 59-40-120
What does South Carolina Code of Laws § 59-40-120 cover?
Section 59-40-120 ("Dissolution of charter school.") 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 § 59-40-120?
A common citation format is "South Carolina Code of Laws § 59-40-120" (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 § 59-40-120 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.