(A) The Patriot's Point Development Authority may maintain special accounts controlled by the authority and made up of funds received by the authority. The authority may retain and carry over these funds it has on account from fiscal year to fiscal year. The receipt and expenditure of funds in these accounts must be reported in an annual fiscal audit of the authority. (B) All earnings and interest accrued on accounts held by the authority must be retained and expended by the authority to carry out its purpose and mission. HISTORY: 2000 Act No. 387, Part II, Section 18A, eff July 1, 2000.
South Carolina Legal Code