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Can you summarize 27 SCCL Chapter 18?
Property and Conveyances > UNIFORM UNCLAIMED PROPERTY ACT
Short Summary
This section of the South Carolina Code of Laws, specifically the Uniform Unclaimed Property Act, governs the cooperation between the administrator and other states regarding the sharing of information, changing of rules, and enforcement of the chapter. The administrator is authorized to enter into agreements with other states to exchange information needed for auditing or determining unclaimed property. The administrator may also require the reporting of information to comply with these agreements. To avoid conflicts with administrators in other jurisdictions that enact the Uniform Unclaimed Property Act, the administrator must advise and consult with them before adopting, amending, or repealing rules. The administrator is also empowered to join with other states to seek enforcement of this chapter against any person holding property reportable under this chapter. Additionally, the administrator may request the Attorney General of another state or any other person to bring an action in the name of the administrator. The expenses, including attorney’s fees, incurred in such actions are to be paid by the respective states. No specific exemptions or penalties are mentioned in this section.
Whom does it apply to?
The administrator, other states, and any person holding property reportable under this chapter
What does it govern?
Cooperation between the administrator and other states regarding the sharing of information, changing of rules, and enforcement of the chapter
What are exemptions?
No specific exemptions are mentioned in this section.
What are the Penalties?
A person violating the section is guilty of a misdemeanor and may be fined not less than the amount of the fee or charge received or contracted for, nor more than ten times the amount, or imprisoned for not more than thirty days, or both.
Jurisdiction
South Carolina