There is hereby created a body politic and corporate to be known as the State Education Assistance Authority (authority). The authority is hereby declared to be a public instrumentality of the State and the exercise by the authority of any power conferred herein shall be deemed and held to be the performance of an essential public function. The authority shall consist of the members, from time to time, of the State Fiscal Accountability Authority, ex officio. Effect of Amendment 2014 Act No. 121, SECTION 20.O.2, substituted "Fiscal Accountability Authority" for "Budget and Control Board of South Carolina", and made other nonsubstantive changes.
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