(A) As used in this section, "auxiliary enterprise funds" means athletics revenues and funds derived from bookstore, licensing, vending, concessions, and food service operations.
(B) The governing boards of all state-supported colleges, universities, and technical schools may lend from time to time their endowment funds and auxiliary enterprise funds, including interest derived therefrom, currently on deposit with the State Treasurer's Office to separately chartered not-for-profit legal entities whose existence is primarily providing financial assistance and other support to the institution and its educational program. The governing boards of all state-supported colleges, universities, and technical schools also may lend from time to time their future endowment funds and auxiliary enterprise funds received, including interest derived therefrom, currently on deposit with the State Treasurer's Office to separately chartered not-for-profit legal entities whose existence is primarily to provide financial assistance and other support to the institution and its educational program, provided however, that all of these funds must first be recorded with the State Treasurer's Office. Income from the loan of auxiliary funds as provided in this section must be used solely for scholarship purposes. The loans must be in accordance with such terms and conditions as determined by the respective institution's governing body.
HISTORY: 1998 Act No. 419, Part II, Section 9A.
Structure South Carolina Code of Laws
Chapter 101 - Colleges And Institutions Of Higher Learning Generally
Section 59-101-10. Designation of state colleges and universities.
Section 59-101-20. Transfer of College of Charleston to State.
Section 59-101-30. Transfer of Lander College to State.
Section 59-101-50. Enrollment preference given to residents.
Section 59-101-55. State appropriated funds restriction.
Section 59-101-80. Degree of licentiate of instruction.
Section 59-101-90. Suspending exercises for Christmas and New Year's Day.
Section 59-101-100. Display of United States and State flags.
Section 59-101-120. Charge for diplomas.
Section 59-101-140. Tabulation of reports.
Section 59-101-150. Approval of new programs.
Section 59-101-160. Degrees of Columbia Bible College.
Section 59-101-170. Liability insurance.
Section 59-101-180. Sale and disposal of real property; disposal of proceeds.
Section 59-101-187. Events recognizing academic and research excellence; funding sources.
Section 59-101-190. Deans' Committee on Medical Education.
Section 59-101-195. Maximum compensation of medical school physicians and employees.
Section 59-101-200. Hazing prohibited; penalties.
Section 59-101-280. Colleges and universities to emphasize teaching as career opportunity.
Section 59-101-285. Governing board meeting attendance requirements for board members.
Section 59-101-290. Notification of risk of contracting certain diseases if living on-campus.
Section 59-101-370. New technical college construction projects; matching state funds.
Section 59-101-410. Loan of endowment funds and auxiliary enterprise funds.
Section 59-101-420. Annual reporting of out-of-state undergraduate student population and policy.
Section 59-101-610. Use of funds for lump-sum bonus plans.
Section 59-101-620. Educational fee waivers.
Section 59-101-630. Funding research grant positions.
Section 59-101-640. Graduate assistant health insurance.