H 4650 General Bill, By I.K. Rudnick
 A Bill to require aliens and agents and servants of aliens who own real
 property for the benefit of aliens to file a report of real property ownership
 with the Secretary of State and to provide for a penalty.

   02/01/94  House  Introduced and read first time HJ-10
   02/01/94  House  Referred to Committee on Judiciary HJ-10

A BILL

TO REQUIRE ALIENS AND AGENTS AND SERVANTS OF ALIENS WHO OWN REAL PROPERTY FOR THE BENEFIT OF ALIENS TO FILE A REPORT OF REAL PROPERTY OWNERSHIP WITH THE SECRETARY OF STATE AND TO PROVIDE FOR A PENALTY.

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

SECTION 1. All aliens who own real property in this State and all agents and servants of aliens, who own real property in this State for the benefit of aliens on the effective date of this act, shall file a copy of every deed which evidences this ownership with the Secretary of State within ninety days after the effective date of this act. When the owner of record is an agent or servant of an alien, the name of the beneficial owner also must be filed with the Secretary of State.

SECTION 2. All aliens who purchase real estate in this State and all agents and servants of aliens, who purchase real estate in this State for the benefit of aliens after the effective date of this act, shall file a copy of every deed which evidences these purchases with the Secretary of State within thirty days after the date of purchase. When the grantee of record is an agent or servant of an alien, the name of the beneficial owner also must be filed with the Secretary of State.

SECTION 3. When real property owned of record by an alien, or by an alien's agent or servant for the benefit of the alien, is sold or otherwise conveyed, the grantor shall file a report of the conveyance with the Secretary of State within thirty days after the date of the conveyance.

SECTION 4. The Secretary of State shall promulgate regulations which specify the information to be contained in and the form of the reports required by this act.

SECTION 5. Any person who fails to comply with the provisions of this act shall forfeit to the State a penalty of five hundred dollars a day for each day of noncompliance. This penalty must be enforced by the Attorney General or his designated representative in a court of competent jurisdiction.

SECTION 6. This act takes effect upon approval by the Governor.