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COMMITTEE REPORT
March 22, 2006
H. 4801
S. Printed 3/22/06--H.
Read the first time March 14, 2006.
To whom was referred a Bill (H. 4801) to amend Section 14-11-310, as amended, Code of Laws of South Carolina, 1976, relating to Masters-in-Equity fees, so as to, etc., respectfully
That they have duly and carefully considered the same and recommend that the same do pass with amendment:
Amend the bill, as and if amended, Section 14-11-310(2) of the 1976 Code, as contained in SECTION 1, by striking /fifty/ on line 31, page 1 and inserting /seventy-five/. When amended, item (2) shall read:
/ (2) for the preparation of a deed, a fee of twenty-five seventy-five dollars; /
Renumber sections to conform.
Amend title to conform.
JAMES H. HARRISON for Committee.
TO AMEND SECTION 14-11-310, AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO MASTERS-IN-EQUITY FEES, SO AS TO REVISE THE MAXIMUM COMMISSION ON CERTAIN SALES OF LAND AND THE FEE FOR PREPARATION OF A DEED.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Section 14-11-310 of the 1976 Code, as last amended by Act 678 of 1988, is further amended to read:
"Section 14-11-310. Masters-in-equity shall collect the following fees which must be deposited in the general fund of the county:
(1) in actions for partitions, foreclosure of liens upon real property, or sales of real property, either in private or by auction, a fee of one hundred dollars. If the matter requires more than one day of hearing, there is a thirty-five dollar charge for each additional day or portion of the day until the matter is concluded;
(2) for the preparation of a deed, a fee of twenty-five fifty dollars;
(3) on sales of land, a fee equal to one percent of the bid or of the funds passing through the court, whichever is greater. The minimum commission collectible under this item is twenty-five dollars, and the maximum commission is two thousand, five hundred five thousand dollars;
(4) for a supplemental proceeding, a fee of twenty-five dollars;
(5) in all other cases, fifty dollars for the first day's hearing or any portion of the day and for each day after the first day, thirty-five dollars. The fees must be assessed at the time of the order or report of the master-in-equity.
The fees provided for in this section, including the first day's fee provided for in item (5) and excluding the commission on the sale, must be paid at the time the order of reference is signed and is nonrefundable unless so ordered by the master-in-equity on proper cause being shown. The cost of transcribing the record is in addition to the fees provided for in this section and must be assessed at the rate prescribed for circuit courts."
SECTION 2. This act takes effect upon approval by the Governor.
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