The State Treasurer shall from time to time invest in bonds of this State or of the United States or in bonds of any county, school district or municipality within the State all such money in the name of the State as a permanent State school fund and shall pay out the income derived therefrom to the counties of the State as the same may be apportioned among the counties by the State Board of Education. But no disposition shall be made of any property, grant, devise, gift or bequest inconsistent with the purposes, conditions or terms thereof.
HISTORY: 1962 Code Section 21-903; 1952 Code Section 21-903; 1942 Code Section 5392; 1932 Code Section 5278; Civ. C. '22 Section 2538; Civ. C. '12 Section 1702; Civ. C. '02 Section 1178; 1896 (22) 150; 1917 (30) 384; 1942 (42) 1444.
Structure South Carolina Code of Laws
Chapter 69 - School Funds Generally
Section 59-69-10. State Treasurer may invest certain fund received from United States Government.
Section 59-69-20. State Treasurer shall hold certain property and moneys for educational purposes.
Section 59-69-30. State school fund.
Section 59-69-40. Funds given to State Superintendent for educational purposes.
Section 59-69-110. Authorization for creation of reserve fund to place schools on cash basis.
Section 59-69-120. Use of reserve fund.
Section 59-69-210. Prerequisites to payment of claims.
Section 59-69-215. Treasurer of county to disburse funds to school district.
Section 59-69-220. Approval of warrants by county superintendent of education or his agent.
Section 59-69-230. Payments from school funds.
Section 59-69-250. Treasurer required to carry forward unexpended balances; report.
Section 59-69-260. Certain officials prohibited from acquiring interest in claims or contracts.