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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.
In its broadest application, split dollar is an arrangement whereby two parties enter into. an agreement to âsplitâ the costs (premiums) and benefits (cash value and death benefit) of a life insurance policy. 2 Traditionally split dollar involved an employer-employee. relationship.