H*4775(Rat #0471, Act #0377 of 1998)  General Bill, By Wilkins
 A BILL TO AMEND SECTION 27-18-190, AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA,
 1976, RELATING TO ADMINISTRATOR'S NOTICE OF ABANDONED PROPERTY UNDER THE
 UNIFORM UNCLAIMED PROPERTY ACT, SO AS TO REVISE THE PUBLICATION PROCEDURE FOR
 PUBLISHING OF NOTICE AND TO DELETE REQUIREMENT OF A MAILED NOTICE.

   03/10/98  House  Introduced and read first time HJ-7
   03/10/98  House  Referred to Committee on Judiciary HJ-8
   04/01/98  House  Committee report: Favorable Judiciary HJ-5
   04/02/98  House  Read second time HJ-11
   04/02/98  House  Unanimous consent for third reading on next
                     legislative day HJ-13
   04/03/98  House  Read third time and sent to Senate HJ-1
   04/07/98  Senate Introduced and read first time SJ-5
   04/07/98  Senate Referred to Committee on Judiciary SJ-5
   04/15/98  Senate Committee report: Favorable with amendment
                     Judiciary SJ-16
   05/26/98  Senate Amended SJ-19
   05/26/98  Senate Read second time SJ-19
   05/26/98  Senate Ordered to third reading with notice of
                     amendments SJ-19
   06/03/98  Senate Read third time and returned to House with amendments
   06/04/98  House  Concurred in Senate amendment and enrolled HJ-27
   06/04/98         Ratified R 471
   06/09/98         Signed By Governor
   06/09/98         Effective date 06/09/98
   06/25/98         Copies available
   06/30/98         Act No. 377

AN ACT TO AMEND SECTION 27-18-190, AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO ADMINISTRATOR'S NOTICE OF ABANDONED PROPERTY UNDER THE UNIFORM UNCLAIMED PROPERTY ACT, SO AS TO REVISE THE PUBLICATION PROCEDURE FOR PUBLISHING OF NOTICE AND TO DELETE REQUIREMENT OF A MAILED NOTICE.

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

Notice of abandoned property

SECTION 1. Section 27-18-190 of the 1976 Code, as last amended by Act 248 of 1996, is further amended to read:

Section 27-18-190. (A) The administrator shall publish a notice not later than April 30 of the year immediately following the report required by Section 27-18-180 at least once in a newspaper of general circulation in the county of this State in which is located the last known address of any person named in the notice. If a holder does not report an address for the apparent owner, or the address is outside this State, the notice must be published in the county in which the holder has its principal place of business within this State or another county that the administrator reasonably selects.

(B) The notice must be in a form that, in the judgment of the administrator, is likely to attract the attention of the apparent owner of the unclaimed property. The form must contain:

(1) the name of each person appearing to be the owner of the property, as set forth in the report filed by the holder;

(2) the last known address or location of each person appearing to be the owner of the property, if an address or location is set forth in the report filed by the holder;

(3) a statement explaining that property of the owner is presumed to be abandoned and has been taken into custody of the administrator; and

(4) a statement that information about the property and its return to the owner is available to a person having a legal or beneficial interest in the property upon request to the administrator.

(C) The administrator is not required to publish the name and address or location of property having a total value of less than fifty dollars or information concerning a traveler's check, money order, or similar instrument.

Time effective

SECTION 2. This act takes effect upon approval by the Governor.

Approved the 9th day of June, 1998.