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TO AMEND THE CODE OF LAWS OF SOUTH CAROLINA, 1976, BY ADDING SECTION 6-1-180 SO AS TO PROVIDE THAT A SPECIAL PURPOSE DISTRICT THAT HAS ACQUIRED A WORK OF ART BY GIFT, BEQUEST, PURCHASE, OR BY OTHER MEANS, MAY TRANSFER OWNERSHIP OF THE OBJECT TO A NONPROFIT CORPORATION ORGANIZED FOR THE PURPOSE OF DISPLAYING WORKS OF ART FOR SUCH CONSIDERATION OR UPON THE TERMS THE GOVERNING BODY OF THE SPECIAL PURPOSE DISTRICT, IN ITS DISCRETION, FINDS TO BE SUFFICIENT AND APPROPRIATE.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Article 1, Chapter 1, Title 6 of the 1976 Code is amended by adding:
"Section 6-1-180. Notwithstanding another provision of law, a special purpose district that has acquired a work of art by gift, bequest, purchase, or by other means, may transfer ownership of the object to a nonprofit corporation organized for the purpose of displaying works of art for such consideration or upon the terms the governing body of the special purpose district, in its discretion, finds to be sufficient and appropriate."
SECTION 2. This act takes effect upon approval by the Governor.
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