(A) A person who fails to pay or deliver property within the time prescribed by this chapter may be required to pay to the administrator interest at the rate provided in Section 12-54-25 on the property or value thereof from the date the property should have been paid or delivered.
(B) A person who fails to render any report or perform other duties required pursuant to this chapter may be required to pay a civil penalty of one hundred dollars for each day the report is withheld or the duty is not performed, but not more than five thousand dollars.
(C) A person who fails to pay or deliver property to the administrator as required pursuant to this chapter may be required to pay a civil penalty equal to twenty-five percent of the value of the property that should have been paid or delivered.
(D) A person who wilfully refuses after written demand by the administrator to pay or deliver property to the administrator as required under this chapter is guilty of a misdemeanor and, upon conviction, must be punished by a fine of not more than ten thousand dollars or imprisonment for not more than one year, or both.
HISTORY: 1988 Act No. 658, Part II, Section 34A; 1995 Act No. 60, Section 4.J; 2008 Act No. 197, Section 3, eff April 15, 2008.
Effect of Amendment
The 2008 amendment, in subsections (B) and (C), substituted "pursuant to this chapter may be required to" for "under this chapter shall".
Structure South Carolina Code of Laws
Title 27 - Property and Conveyances
Chapter 18 - Uniform Unclaimed Property Act
Section 27-18-10. Short title.
Section 27-18-20. Definitions.
Section 27-18-30. Property presumed abandoned; demand for payment not required.
Section 27-18-40. Conditions for taking custody of intangible unclaimed property.
Section 27-18-50. Travelers checks, money orders, or similar written instruments.
Section 27-18-70. Demand, savings, or matured time deposits with banking or financial organizations.
Section 27-18-75. Escheatment of United States savings bonds.
Section 27-18-76. Claims for escheated United States savings bonds or proceeds from bond.
Section 27-18-90. Utility service deposits, advance payments, or ordered refunds.
Section 27-18-100. Business associations; refunds ordered by court or administrative agency.
Section 27-18-140. Unclaimed intangible property presumed abandoned; tax refund checks.
Section 27-18-150. Credit memo.
Section 27-18-160. Unpaid wages and unpresented payroll checks.
Section 27-18-170. Contents of safe deposit boxes or other safekeeping repositories.
Section 27-18-175. Application of chapter.
Section 27-18-180. Report of unclaimed property; notice to apparent owner.
Section 27-18-190. Administrator's notice of abandoned property; publication; contents; exceptions.
Section 27-18-230. Sale of property by administrator.
Section 27-18-260. Recovery by another state of property paid or delivered to administrator.
Section 27-18-270. Appeal of decision of administrator, court action to establish claim to property.
Section 27-18-300. Periods of limitation.
Section 27-18-320. Length of time holders must retain records.
Section 27-18-330. Authority of administrator to enforce chapter.
Section 27-18-350. Interest and penalties for violations of chapter.
Section 27-18-370. Application of chapter to foreign property or transactions.
Section 27-18-390. Authority of administrator to adopt rules.