S.C. Code § 42-7-75
All state agencies shall pay workers' compensation premiums according to Section 42-7-70, as determined by the State Accident Fund. Calculation of premiums for the Adjutant General's Office must exclude losses arising out of service as a member of the South Carolina State and National Guard. In lieu of premiums for those losses the Adjutant General shall pay, at the beginning of each premium year, the amount estimated by the fund to be required to cover actual workers' compensation benefits to guard members during the premium year. If the amount actually paid as benefits differs from the estimated pay out advanced under this paragraph, the difference must be debited or credited to the Adjutant General's account in the same manner that an actual adjusted premium is handled.
The State Treasurer and the Comptroller General shall pay from the general fund of the State to the State Accident Fund any necessary funds to cover actual benefit claims paid during any fiscal year, which exceed the amounts paid in for this purpose by the various agencies, departments, and institutions. The State Accident Fund shall certify quarterly to the State Fiscal Accountability Authority the state's liability for the benefit claims actually paid to claimants who are employees of any agency or political subdivision of this State and who are entitled to such payment under state law. The amount certified must be remitted to the State Accident Fund.
If there are not sufficient funds in the State Accident Fund Trust Account to pay operating expenses and claims as they arise, the State Treasurer shall, from the general fund of the State, deposit in the account monthly sufficient funds to pay expenses and claims required by law to be paid, but the amount deposited may not exceed the amount of investment income which the account would have earned from its inception if all such earnings had been credited to the fund.
S.C. Code § 42-7-75
1989 Act No. 189, Part II, Section 22B(1), effective June 8, 1989 provides as follows:
"The purpose and effect of the amendment to Section 42-7-75 of the 1976 Code contained in item (2) of this subsection is to continue the state's guarantee for that portion of any reserve deficiency which is attributable to failure to credit investment income to the State Fund Trust Account and also to provide that the State Workers' Compensation Fund must operate solely on revenue derived from operations, including investment income, in the future."
1990 Act No. 612, Part II, Section 15E, effective June 13, 1990, became law without the Governor's signature, provides as follows:
"SECTION 15E. The amendment to Section 42-7-75 of the 1976 Code, as contained in Subsection B. of this section, applies to claims occurring after June 30, 1985."
Code Commissioner's Note
At the direction of the Code Commissioner, references in this section to the offices of the former State Budget and Control Board, Office of the Governor, or other agencies, were changed to reflect the transfer of them to the Department of Administration or other entities, pursuant to the directive of the South Carolina Restructuring Act, 2014 Act No. 121, Section 5(D)(1), effective July 1, 2015.