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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 life insurance is a life insurance policy that is purchased by two or more parties. The parties can share a number of different aspects of the policy, such as responsibility for premium payments, the death benefit payouts, and dividends.