A bill

 

TO AMEND THE SOUTH CAROLINA CODE OF LAWS BY AMENDING SECTION 33-14-107, RELATING TO UNKNOWN CLAIMS AGAINST DISSOLVED CORPORATIONS, SO AS TO BAR ENFORCEMENT PROCEEDINGS AGAINST DISSOLVED CORPORATIONS UNLESS THE CLAIMANT COMMENCES A PROCEEDING WITHIN FIVE YEARS AFTER THE CORPORATION'S NOTICE OF DISSOLUTION.

 

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

 

SECTION 1.  Section 33-14-107(c) of the S.C. Code is amended to read:

 

    (c) If the dissolved corporation publishes a newspaper notice in accordance with subsection (b), the claim of each of the following claimants is barred unless the claimant commences a proceeding to enforce the claim against the dissolved corporation within tenfive years after the publication date of the newspaper notice:

       (1) a claimant who did not receive written notice pursuant to Section 33-14-106;

       (2) a claimant whose claim was timely sent to the dissolved corporation but not acted on; and

       (3) a claimant whose claim is contingent or based on an event occurring after the effective date of the dissolution.

 

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

----XX----