In the operation of the training and equestrian center, the net profits, if any, exclusive of those attributed to the running of the Carolina Cup and related races, must be retained for expansion or maintenance of the Springdale operation or annually be remitted to the State Treasurer and deposited in the Springdale Fund; but the Association may not retain or carry forward an amount exceeding thirty-five thousand dollars. HISTORY: 1984 Act No. 313, Section 6.
South Carolina Legal Code