South Carolina Code 51-15-230. Gifts and loans
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Terms Used In South Carolina Code 51-15-230
- Bequest: Property gifted by will.
- Devise: To gift property by will.
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
- Personal property: All property that is not real property.
- such municipality: refers to and means any city of this State with a population of between thirty-six thousand and fifty-five thousand, according to the last United States Government census. See South Carolina Code 51-15-110
Any such municipality, by and through its park and recreation board, may accept any grant or devise of real estate or any gift or bequest of money or other property, or loan of personal property, or any donation to be applied, principal or income, or both, for either temporary or permanent use for parks, playgrounds or other recreational purposes, and if any such gift, bequest, devise or donation or loan be conditional, the proper authorities of such municipality may accept it upon the conditions attached, and comply with such conditions, if in the judgment of such authorities such conditions be reasonable, and to the best interests of such municipality. Money received in any such manner, unless otherwise provided by the terms of the gift or bequest, shall accrue to and become a part of the park and recreation fund of such municipality.