(A) The amount deposited in the trust fund from contributions plus all earnings from the investment of monies of the trust fund credited during the previous fiscal year, after allowances for operating expenses, is available for disbursement upon the authorization of the board of directors. (B) A quorum of the board members is necessary to authorize the disbursement of funds. HISTORY: 2008 Act No. 361, Section 2; 2008 Act No. 273, Section 1.
South Carolina Legal Code