South Carolina Code 59-29-560. Disbursement of and accountability for funds; penalties
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(A) Schools shall demonstrate to the Financial Literacy Office the accountability of funds distributed pursuant to this chapter.
(B) Disbursements may be made only on the written authorization of the individual designated by the school district and only for the purposes specified. A person violating this section is guilty of a misdemeanor and, upon conviction, must be fined five thousand dollars or imprisoned for six months, or both.
Terms Used In South Carolina Code 59-29-560
- Conviction: A judgement of guilt against a criminal defendant.
- Embezzlement: In most states, embezzlement is defined as theft/larceny of assets (money or property) by a person in a position of trust or responsibility over those assets. Embezzlement typically occurs in the employment and corporate settings. Source: OCC
(C) The offenses of misuse, misappropriation, and embezzlement of public funds apply to this chapter.