S 0128 General Bill, By Knotts
 A BILL TO AMEND THE CODE OF LAWS OF SOUTH CAROLINA, 1976, BY ADDING SECTION
 40-5-390 SO AS TO PROVIDE A TIME LIMIT FOR AN ATTORNEY TO PAY A TITLE
 ABSTRACTOR, PROVIDE A REMEDY FOR A TITLE ABSTRACTOR WHO IS NOT PAID BY THE
 ATTORNEY WHO REQUESTED THE TITLE ABSTRACT, AND PROVIDE A PENALTY.

   01/08/03  Senate Prefiled
   01/08/03  Senate Referred to Committee on Labor, Commerce and Industry
   01/14/03  Senate Introduced and read first time SJ-72
   01/14/03  Senate Referred to Committee on Labor, Commerce and
                     Industry SJ-72

TO AMEND THE CODE OF LAWS OF SOUTH CAROLINA, 1976, BY ADDING SECTION 40-5-390 SO AS TO PROVIDE A TIME LIMIT FOR AN ATTORNEY TO PAY A TITLE ABSTRACTOR, PROVIDE A REMEDY FOR A TITLE ABSTRACTOR WHO IS NOT PAID BY THE ATTORNEY WHO REQUESTED THE TITLE ABSTRACT, AND PROVIDE A PENALTY.

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

SECTION    1.    Article 5, Chapter 5, Title 40 of the 1976 Code is amended by adding:

"Section 40-5-390.    (A)    An attorney shall pay a title abstractor for services rendered in connection with the title search within the earlier of:

(1)    seven days after the closing of the property searched; or

(2)    forty-five days after the attorney receives the completed title work.

(B)    If a title abstractor is not paid by the attorney who requested the services within the time specified in subsection (A), the title abstractor may withdraw the abstractor's certification of title.

(C)    A person who violates a provision of this section is subject to a civil fine of not more than five hundred dollars."

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