If the board of the Department of Natural Resources is dissolved, the succeeding agency shall assume the trusteeship of the fund and is bound by all the limitations and restrictions placed by this article on expenditures from the fund. No repeal or modification of this article or title alters the fundamental purposes to which the fund is applied. No future dissolution of the board of the Department of Natural Resources or substitute agency invalidates any lifetime license issued in accordance with Chapter 9 of this title.
S.C. Code § 50-3-780