(A) The South Carolina Jobs-Economic Development Authority is designated, authorized, and directed to implement the State Small Business Credit Initiative within the State. The South Carolina Jobs-Economic Development Authority is authorized to apply for and receive the South Carolina Small Business Credit Initiative Allocation; to execute and deliver the requisite application, the State Small Business Credit Initiative Allocation Agreement for Participating States, and all other agreements, documents, certificates, and undertakings related thereto, on behalf of the State; to implement one or more Capital Assistance Programs and/or Other Credit Support Programs as permitted under and supported by the State Small Business Credit Initiative; and to contract with the Business Development Corporation of South Carolina in order to administer such programs.
(B) The Board of Directors of the South Carolina Jobs-Economic Development Authority may designate by resolution the appropriate officer, including, if so determined, the Executive Director of the South Carolina Jobs-Economic Development Authority, to execute and deliver, on behalf of the State, the application, the State Small Business Credit Initiative Allocation Agreement, and all other agreements, documents, certificates, and undertakings related thereto.
HISTORY: 2011 Act No. 30, Sections 2, 3, eff May 23, 2011.
Structure South Carolina Code of Laws
Title 41 - Labor and Employment
Chapter 43 - South Carolina Jobs - Economic Development Fund Act
Section 41-43-10. Citation of chapter.
Section 41-43-20. Definitions.
Section 41-43-40. Appointment and qualifications of directors; ex officio members; terms.
Section 41-43-70. Functions and duties of the authority generally.
Section 41-43-80. Implementation of programs; delegation of authority; responsibility for programs.
Section 41-43-90. Corporate and other powers of the authority.
Section 41-43-100. Industrial development projects.
Section 41-43-110. Issuance of bonds; utilization of proceeds.
Section 41-43-120. Authority bonds to constitute lawful fiduciary investment.
Section 41-43-140. Insurance fund; use as security for holders of bonds.
Section 41-43-160. Loan programs; authorized purposes; authority's powers as to loans.
Section 41-43-170. Guaranty fund authorized; purposes.
Section 41-43-180. Determination of economically distressed areas; criteria.
Section 41-43-190. Expert programs; purposes; criteria for assistance.
Section 41-43-200. Collection and dissemination of information and data.
Section 41-43-210. Funds for administrative purposes.
Section 41-43-220. Administrative funds not to be obligated except for administrative expenses.
Section 41-43-230. Disposition of property; authority not required to advertise or take bids.
Section 41-43-240. Creation of other corporations.
Section 41-43-250. Protection of confidential information.
Section 41-43-260. Annual audit and report.
Section 41-43-270. Application of Administrative Procedures Act.