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Multiple transactions to the same vendor on the same day when the combined total of the orders exceed the Purchasing Card transaction limit of $2,500 is considered splitting purchase transactions. Whether the action is intentional or not, it is a violation of the SC Procurement Code.
Split-dollar life insurance is a type of life insurance in which a company and an employee of the company purchase a life insurance policy together. However, the employer and the employee share both the premium costs and the benefits of the policy.