Upon implementation of the program, the director or his designee shall prepare an annual financial report of the fund and the program. This report must be submitted to the Treasurer on the date and in the format prescribed by the Treasurer. The director or his designee annually shall evaluate the actuarial soundness of the fund and report this information to the Treasurer.
HISTORY: 1997 Act No. 155, Part II, Section 4A; 2000 Act No. 410, Section 2(E); 2005 Act No. 164, Section 32, eff June 10, 2005.
Effect of Amendment
The 2005 amendment deleted the third sentence relating to audits by the State Auditor.
Structure South Carolina Code of Laws
Chapter 4 - South Carolina Tuition Prepayment Program
Section 59-4-10. Short title; purpose.
Section 59-4-50. Undertakings payable solely from fund monies.
Section 59-4-60. Cooperation and assistance from state entities.
Section 59-4-65. Discontinuing fund; contributor refunds and deficiencies.
Section 59-4-70. Annual financial report.
Section 59-4-80. Application of Internal Revenue Service rulings.
Section 59-4-90. Payroll deductions.
Section 59-4-110. New participants prohibited.
Section 59-4-120. Tuition increase above seven percent prohibited for participating institutions.