Upon dissolution of a charter school, its assets may not inure to the benefit of any private person. Any assets obtained through restricted agreements with a donor through awards, grants, or gifts must be returned to that entity. All other assets become property of the State of South Carolina.

HISTORY: 1996 Act No. 447, SECTION 2; 2002 Act No. 341, SECTION 1; 2006 Act No. 274, SECTION 1, eff May 3, 2006; 2026 Act No. 123 (S.454), SECTION 12, eff May 15, 2026.

Effect of Amendment

The 2006 amendment reprinted this section with no apparent change.

2026 Act No. 123, SECTION 12, in the last sentence, substituted "State of South Carolina" for "sponsor".