A provision of this chapter may not be construed to authorize the SCRA to commit the credit and taxing power of the State. Where the SCRA establishes, controls, funds, supports, or is otherwise involved with a nonprofit entity or appoints some or all of the directors of a nonprofit entity, and this nonprofit entity has established or establishes a for-profit entity, has acquired or acquires an ownership interest in a for-profit entity, the SCRA shall provide written notice to both this nonprofit entity and this for-profit entity that the SCRA may not pledge the credit and taxing power of the State. A failure to provide this written notice may not be construed to indicate the SCRA may pledge the credit and taxing power of the State.
HISTORY: 2012 Act No. 209, Section 1, eff June 7, 2012.
Structure South Carolina Code of Laws
Title 13 - Planning, Research and Development
Chapter 17 - South Carolina Research Authority
Section 13-17-10. Establishment of South Carolina Research Authority.
Section 13-17-20. South Carolina Research Authority; divisions; objectives.
Section 13-17-40. Members of board; terms; vacancies; compensation; annual reports; meetings.
Section 13-17-50, 13-17-60. Reserved.
Section 13-17-70. Powers of board of trustees.
Section 13-17-80. Board of trustees to exercise power of authority; exceptions; quorum.
Section 13-17-81. "Research park" defined.
Section 13-17-85. Confidentiality.
Section 13-17-88. Target programs of excellence; Industry Partnership Fund.
Section 13-17-89. Prohibition on pledging credit of State.
Section 13-17-90. Exemption from taxation.
Section 13-17-100. State not obligated, liable, or responsible.
Section 13-17-130. Assistance to public and private universities.
Section 13-17-140. Identification of common interest areas; promotion of universities.
Section 13-17-150. Establishment of statewide professional research organization.
Section 13-17-160. Restrictions on authority.
Section 13-17-170. Exemption of authority and its employees from certain Code provisions.
Section 13-17-180. Not-for-profit corporations; powers and limitations; annual audit.