§ 59-2-10 Short title
§ 59-2-20 Findings and Purpose
§ 59-2-30 Definitions
§ 59-2-40 State Treasurer responsible for SCCIP and SCTPP programs
§ 59-2-50 Powers of State Treasurer
§ 59-2-60 Investment trust agreements
§ 59-2-70 South Carolina College Investment Trust Fund
§ 59-2-80 Tax features
§ 59-2-85 Contributions through payroll deductions
§ 59-2-90 Investment of trust funds
§ 59-2-100 Annual statements to account holders; additional statements upon request; fees; annual reports
§ 59-2-110 Disclaimer as to admission, continued enrollment, or graduation
§ 59-2-120 No promise or guarantee that higher education expenses will be covered in full by trust account; trust accounts and agreements not guaranteed by full faith and credit of the State of South Carolina
§ 59-2-130 SCCIP Trust Fund monies not to be considered an asset for purposes of eligibility for grant, scholarship, or work opportunity except as required by funding source
§ 59-2-140 SCCIP trust fund exempt from legal process, unassignable
§ 59-2-150 State Treasurer, others not responsible for determining specified information
§ 59-2-160 Severability
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Terms Used In South Carolina Code > Title 59 > Chapter 2 - South Carolina College Investment Program

  • Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
  • Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
  • Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
  • Bequeath: To gift property by will.
  • Contract: A legal written agreement that becomes binding when signed.
  • 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.
  • Department: means the South Carolina Department of Natural Resources unless otherwise stated. See South Carolina Code 50-5-15
  • Devise: To gift property by will.
  • 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.
  • Fish: means finfish, shellfish including mollusks, crustaceans, horseshoe crabs, whelks (conchs), turtles, and terrapin or products thereof. See South Carolina Code 50-5-15
  • Fishing: means all activity and effort involved in taking or attempting to take fish. See South Carolina Code 50-5-15
  • Garnishment: Generally, garnishment is a court proceeding in which a creditor asks a court to order a third party who owes money to the debtor or otherwise holds assets belonging to the debtor to turn over to the creditor any of the debtor
  • Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
  • Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
  • Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
  • lands: as used in this chapter shall be held to cover and include railroads and all property assessed for benefits. See South Carolina Code 49-19-40
  • Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
  • Oath: A promise to tell the truth.
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
  • Owner: means a person, other than a lienholder, who claims lawful possession of a vessel or outboard motor by virtue of legal title or equitable interest in it which entitled him to possession. See South Carolina Code 50-21-10
  • owner: as used in this chapter shall mean the owner of the freehold estate, as appears by the deed record, and it shall not include reversioners, remaindermen, trustees or mortgagees, who shall not be counted and need not be notified by publication or served by process but shall be represented by the present owner of the freehold estate in any proceedings under this chapter. See South Carolina Code 49-19-30
  • Person: means an individual, a partnership, a firm, a corporation, an association, or other legal entity. See South Carolina Code 50-21-10
  • Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
  • Shellfish: means oysters, clams, mussels, scallops, and all nonmotile molluscan fish having shells. See South Carolina Code 50-5-15
  • Trust account: A general term that covers all types of accounts in a trust department, such as estates, guardianships, and agencies. Source: OCC
  • Use: means operate, navigate, or employ. See South Carolina Code 50-21-10