H*3808(Rat #0456, Act #0395 of 2000)  General Bill, By Kelley, Keegan, 
Witherspoon, Edge, Miller, Simrill, Rhoad, Altman, Barrett, Battle, Campsen, 
Davenport, Emory, Limehouse, R. Smith, Vaughn, Walker and Wilkes

Similar(S 701, S 1202)
 A BILL TO AMEND SECTION 12-24-40, AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA,
 1976, RELATING TO DEEDS EXEMPTED FROM THE STATE'S DEED RECORDING FEE, SO AS TO
 ALLOW AN EXEMPTION FOR DEEDS THAT TRANSFER REALTY FROM AN AGENT TO THE AGENT'S
 PRINCIPAL IN WHICH THE REALTY WAS PURCHASED WITH FUNDS OF THE PRINCIPAL; AND
 TO AMEND SECTION 33-44-211, RELATING TO LIMITED LIABILITY COMPANIES SUBMITTING
 ANNUAL REPORTS TO THE SECRETARY OF STATE, SO AS TO CHANGE THE DATE FOR
 SUBMITTING SUCH REPORTS ON OR BEFORE THE FIFTEENTH DAY OF THE THIRD MONTH
 FOLLOWING THE CLOSE OF THE TAXABLE YEAR.-AMENDED TITLE

   03/31/99  House  Introduced and read first time HJ-8
   03/31/99  House  Referred to Committee on Judiciary HJ-9
   04/19/00  House  Committee report: Favorable with amendment
                     Judiciary HJ-17
   04/26/00  House  Amended HJ-86
   04/26/00  House  Requests for debate-Rep(s). Fleming, Cooper,
                     Robinson, Cato, Kirsh and Knotts HJ-86
   04/27/00  House  Requests for debate removed-Rep(s). Cato, Cooper
                     and Fleming HJ-19
   04/27/00  House  Requests for debate removed-Rep(s). Robinson HJ-21
   04/27/00  House  Read second time HJ-36
   04/27/00  House  Unanimous consent for third reading on next
                     legislative day HJ-37
   04/28/00  House  Read third time and sent to Senate HJ-1
   05/02/00  Senate Introduced and read first time SJ-10
   05/02/00  Senate Referred to Committee on Finance SJ-10
   05/25/00  Senate Recalled from Committee on Finance SJ-6
   05/31/00  Senate Amended SJ-163
   05/31/00  Senate Unanimous consent for third reading on next
                     legislative day SJ-164
   06/01/00  Senate Read third time and returned to House with
                     amendments SJ-30
   06/01/00  House  Senate amendment amended HJ-54
   06/01/00  House  Returned to Senate with amendments HJ-54
   06/21/00  Senate Non-concurrence in House amendment SJ-37
   06/22/00  House  House insists upon amendment and conference
                     committee appointed Reps. Seithel, Campsen and
                     Taylor HJ-2
   06/22/00  Senate Conference committee appointed Sens. Rankin,
   06/22/00  House  Free conference powers granted HJ-156
   06/22/00  House  Free conference committee appointed Seithel,
                     Campsen and Taylor HJ-158
   06/22/00  House  Free conference report received and adopted HJ-158
   06/22/00  Senate Free conference powers granted
   06/22/00  Senate Free conference committee appointed Sens. Rankin,
   06/22/00  Senate Free conference report received and adopted
   06/22/00  Senate Ordered enrolled for ratification
   06/22/00         Ratified R 456
   07/20/00         Signed By Governor
   08/22/00         Effective date 07/20/00
   08/22/00         Copies available
   08/22/00         Act No. 395

AN ACT TO AMEND SECTION 12-24-40, AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO DEEDS EXEMPTED FROM THE STATE'S DEED RECORDING FEE, SO AS TO ALLOW AN EXEMPTION FOR DEEDS THAT TRANSFER REALTY FROM AN AGENT TO THE AGENT'S PRINCIPAL IN WHICH THE REALTY WAS PURCHASED WITH FUNDS OF THE PRINCIPAL; AND TO AMEND SECTION 33-44-211, RELATING TO LIMITED LIABILITY COMPANIES SUBMITTING ANNUAL REPORTS TO THE SECRETARY OF STATE, SO AS TO CHANGE THE DATE FOR SUBMITTING SUCH REPORTS ON OR BEFORE THE FIFTEENTH DAY OF THE THIRD MONTH FOLLOWING THE CLOSE OF THE TAXABLE YEAR.

Be it enacted by the General Assembly of the State of South Carolina:

Deeds exempt from recording fee

SECTION 1. Section 12-24-40 of the 1976 Code, as last amended by Act 324 of 1998, is further amended by adding at the end an appropriately numbered item as follows:

"( ) transferring realty from an agent to the agent's principal in which the realty was purchased with funds of the principal, provided that a notarized document is also filed with the deed that establishes the fact that the agent and principal relationship existed at the time of the original purchase as well as for the purpose of purchasing the realty."

Date changed for submitting report

SECTION 2. Section 33-44-211(c) of the 1976 Code, as added by Act 343 of 1996, is amended to read:

"(c) The first annual report must be delivered to the Secretary of State between January first and April first of the year following the calendar year in which a limited liability company was organized or a foreign company was authorized to transact business. Subsequent annual reports must be delivered to the Secretary of State on or before the fifteenth day of the third month following the close of the taxable year."

Time effective

SECTION 3. This act takes effect upon approval by the Governor, and Section 1 applies with respect to deeds recorded on and after that date.

Ratified the 22nd day of June, 2000.

Approved the 20th day of July, 2000.