A person claiming a United States savings bond escheated to the State under Section 27-18-75, or for the proceeds from the bond, may file a claim with the administrator. The administrator may approve the claim if the person is able to provide sufficient proof of the validity of the person's claim. No costs of prior court action regarding the savings bond or bonds which are the subject of the person's claim may be taxed against that person. Once a bond, or the proceeds from the bond, are remitted to a claimant, no action thereafter may be maintained by any other person against the administrator, the State, or any officer of the State, for or on account of the funds. The person's sole remedy, if any, must be against the claimant who received the bond or proceeds from the bond.
HISTORY: 2015 Act No. 81 (H.3852), Section 2, eff June 11, 2015.
Editor's Note
2015 Act No. 81, Section 3, provides as follows:
"SECTION 3. This act applies to any United States savings bond that reaches maturity on, before, or after the effective date of this act."
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.