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TO AMEND SECTION 27-18-190, AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO NOTICE OF ABANDONED PROPERTY FOR PURPOSES OF THE UNIFORM UNCLAIMED PROPERTY ACT, SO AS TO PROVIDE FOR NOTICE BY ELECTRONIC MEANS AS AN ALTERNATIVE TO NEWSPAPER PUBLICATION.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Section 27-18-190(A) of the 1976 Code, as last amended by Act 377 of 1998, is further amended to read:
"(A) The administrator shall publish a notice not later than April 30 thirtieth of the year immediately following the report required by Section 27-18-180 by electronic means in this State or 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."
SECTION 2. This act takes effect upon approval by the Governor.
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