View Amendment Current Amendment: DAD 76 unclaimed property.DOCX to Bill 4813     Senator MALLOY proposes the following amendment (DAD 76 UNCLAIMED PROPERTY):
    Amend Amendment #89, which was the 27th amendment adopted and which was adopted on 5/17/12, bearing document number l:\S-RES\AMEND\4813R026.PGC.DOCX, by striking the amendment in its entirety and inserting:

    Amend the bill, as and if amended, Part IB, Section 76, OFFICE OF THE STATE TREASURER, page 466, after line 28, by adding an appropriately numbered proviso to read:

/     76.14.     (TREAS: Unclaimed Property) The State Treasurer may not expend funds to retain a third party, private sector auditor, or auditing firms to fulfill his duties pursuant to the South Carolina Uniform Unclaimed Property Act on a contingency basis or any basis other than an hourly basis, with the exception that the State Treasurer may join other state(s) in multi-state contingent fee auditors' examinations, not to include companies whose parent company is headquartered or incorporated in South Carolina, when there is a reason to believe that those companies being audited are holding funds belonging to South Carolina citizens. The Office of State Treasurer shall retain $200,000 from the Unclaimed Property Program for the sole purpose of employing internal compliance auditors to enforce the Unclaimed Property Act. /

    Renumber sections to conform.
    Amend sections, totals and title to conform.