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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. Generally, the employer is listed as the owner of the policy.. However, the employer and the employee share both the premium costs and the benefits of the policy.