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A79, R100, H3502
Sponsors: Reps. Murphy, Vick, Goldfinch, K.R. Crawford, Harrell, Horne, M.S. McLeod and Owens
Document Path: l:\council\bills\agm\19887ab13.docx
Introduced in the House on February 6, 2013
Introduced in the Senate on April 30, 2013
Last Amended on April 24, 2013
Passed by the General Assembly on June 5, 2013
Governor's Action: June 13, 2013, Signed
Summary: Citadel Board of Visitors
HISTORY OF LEGISLATIVE ACTIONS
Date Body Action Description with journal page number ------------------------------------------------------------------------------- 2/6/2013 House Introduced, read first time, placed on calendar without reference (House Journal-page 6) 2/7/2013 House Referred to Committee on Ways and Means (House Journal-page 33) 4/18/2013 House Committee report: Favorable with amendment Ways and Means (House Journal-page 23) 4/24/2013 House Amended (House Journal-page 153) 4/24/2013 House Read second time (House Journal-page 153) 4/24/2013 House Roll call Yeas-97 Nays-0 (House Journal-page 154) 4/25/2013 House Read third time and sent to Senate (House Journal-page 36) 4/30/2013 Senate Introduced and read first time (Senate Journal-page 7) 4/30/2013 Senate Referred to Committee on Education (Senate Journal-page 7) 5/29/2013 Senate Committee report: Favorable Education (Senate Journal-page 23) 6/4/2013 Senate Read second time (Senate Journal-page 81) 6/4/2013 Senate Roll call Ayes-43 Nays-0 (Senate Journal-page 81) 6/5/2013 Senate Read third time and enrolled (Senate Journal-page 14) 6/11/2013 Ratified R 100 6/13/2013 Signed By Governor 6/20/2013 Effective date 06/13/13 6/24/2013 Act No. 79
View the latest legislative information at the LPITS web site
VERSIONS OF THIS BILL
(A79, R100, H3502)
AN ACT TO AMEND SECTION 59-121-55, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO THE TRANSFER OF FUNDS OR PROPERTY BY THE CITADEL BOARD OF VISITORS TO A NONPROFIT ELEEMOSYNARY CORPORATION ESTABLISHED BY THE BOARD AND KNOWN AS THE CITADEL FOUNDATION, SO AS TO REMOVE A LIMIT ON THE AMOUNT OF FUNDS AND PROPERTY THAT THE BOARD MAY TRANSFER TO THE CORPORATION, AND TO PROVIDE THE BOARD MAY TRANSFER FUNDS AND PROPERTY PRIVATELY DONATED TO THE COLLEGE, AND INCOME AND PROCEEDS DERIVED FROM THOSE FUNDS AND PROPERTY.
Be it enacted by the General Assembly of the State of South Carolina:
The Citadel Foundation, transfer of funds and property
SECTION 1. Section 59-121-55(B) of the 1976 Code is amended to read:
"(B) The Board of Visitors is further authorized to transfer funds and property privately donated to the college, and income or proceeds derived from these privately donated funds and property, that the board holds in its name or in the college's name for scholarship and other college support purposes to the nonprofit corporation formed pursuant to subsection (A). These funds, property, and income and proceeds derived from them, must be used by the nonprofit corporation for its stated purposes, except that any restrictions or limitations applicable to a specified portion of these funds or property continue to be applicable after the transfer of the funds, property, and income and proceeds derived from them, to the nonprofit corporation. Any encumbrances or liability on the funds, property, and income and proceeds derived from them so transferred must be assumed by the nonprofit corporation."
SECTION 2. This act takes effect upon approval by the Governor.
Ratified the 11th day of June, 2013.
Approved the 13th day of June, 2013.
This web page was last updated on Friday, August 16, 2013 at 12:15 P.M.