South Carolina Code 4-10-10. Definitions
(1) "County area" means a county and all municipalities within its geographical boundaries.
Terms Used In South Carolina Code 4-10-10
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
(2) "County" means the unincorporated areas of a county area or county government as the use of the term dictates.
(3) "Municipality" means a municipal corporation created pursuant to Chapter 1 of Title 5 or a municipal government as the use of the term dictates.
(4) "Minimum distribution" means an amount equal to two million dollars for the first distribution and after that adjusted annually on a cumulative basis by a percentage equal to the increase in revenues credited to the Education Improvement Act Fund for the most recently completed fiscal year over the revenues credited to that fund in the preceding fiscal year.
(5) "Population" means population as determined in the most recent official United States Census.
(6) "General election" means the Tuesday following the first Monday in November in any year.