South Carolina General Assembly
109th Session, 1991-1992

Bill 3603

                    Current Status

Introducing Body:               House
Bill Number:                    3603
Ratification Number:            276
Act Number:                     264
Primary Sponsor:                Waites
Type of Legislation:            GB
Subject:                        Property, abandoned; holding
                                time
Date Bill Passed both Bodies:   Jan 30, 1992
Computer Document Number:       436/11291.DW
Governor's Action:              S
Date of Governor's Action:      Feb 19, 1992
Introduced Date:                Feb 26, 1991
Date of Last Amendment:         Jan 21, 1992
Last History Body:              ------
Last History Date:              Feb 19, 1992
Last History Type:              Act No. 264
Scope of Legislation:           Statewide
All Sponsors:                   Waites
                                Kinon
Type of Legislation:            General Bill
History


 Bill  Body    Date          Action Description              CMN
 ----  ------  ------------  ------------------------------  ---
 3603  ------  Feb 19, 1992  Act No. 264
 3603  ------  Feb 19, 1992  Signed by Governor
 3603  ------  Feb 13, 1992  Ratified R 276
 3603  House   Jan 30, 1992  Concurred in Senate
                             amendment, enrolled for
                             ratification
 3603  Senate  Jan 28, 1992  Read third time, returned to
                             House with amendment
 3603  Senate  Jan 22, 1992  Read second time
 3603  Senate  Jan 21, 1992  Amended
 3603  Senate  Jan 15, 1992  Committee Report: Favorable     11
                             with amendment
 3603  Senate  Apr 29, 1991  Introduced, read first time,    11
                             referred to Committee
 3603  House   Apr 26, 1991  Read third time, sent to
                             Senate
 3603  House   Apr 25, 1991  Unanimous consent for third
                             reading on next Legislative
                             day
 3603  House   Apr 25, 1991  Read second time
 3603  House   Apr 17, 1991  Committee Report: Favorable     25
 3603  House   Feb 26, 1991  Introduced, read first time,    25
                             referred to Committee
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(Text matches printed bills. Document has been reformatted to meet World Wide Web specifications.)

(A264, R276, H3603)

AN ACT TO AMEND SECTION 27-18-140, AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO THE HOLDING OF INTANGIBLE PROPERTY FOR THE OWNER BY A COURT, STATE, OR OTHER GOVERNMENT, SO AS TO INCREASE FROM ONE TO FIVE YEARS THE HOLDING TIME FOR PROPERTY BEFORE IT IS DECLARED ABANDONED; AND TO REPEAL SECTION 4-11-90 RELATING TO THE REQUIREMENT THAT COUNTY OFFICERS PAY CERTAIN UNCLAIMED FUNDS TO COUNTY TREASURERS.

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

Holding time extended

SECTION 1. Section 27-18-140 of the 1976 Code, as last amended by Act 658, Part II, Section 34A, of 1988, is further amended to read:

"Section 27-18-140. Intangible property held for the owner by a court, state, or other government, governmental subdivision or agency, public corporation, or public authority which remains unclaimed by the owner for more than five years after becoming payable or distributable is presumed abandoned."

Repeal

SECTION 2. Section 4-11-90 of the 1976 Code is repealed.

Time effective

SECTION 3. This act takes effect upon approval by the Governor.

Approved the 19th day of February, 1992.