Assets of a dissolved corporation that should be transferred to a creditor, claimant, or shareholder of the corporation who cannot be found or who is not competent to receive them, must be reduced to cash and deposited with the Department of Revenue or other appropriate state official for safekeeping in accordance with the Uniform Disposition of Unclaimed Property Act. When the creditor, claimant, or shareholder furnishes satisfactory proof of entitlement to the amount deposited, the Department of Revenue or other appropriate state official shall pay him or his representative that amount.
HISTORY: Derived from 1976 Code Section 33-21-210 [1962 Code Section 12-22.21; 1962 (52) 1996; 1981 Act No. 146, Section 2; Repealed, 1988 Act No. 444, Section 4(1)]; 1988 Act No. 444, Section 2; 1993 Act No. 181, Section 515.
Structure South Carolina Code of Laws
Title 33 - Corporations, Partnerships and Associations
Section 33-14-101. Dissolution by incorporators or initial directors.
Section 33-14-102. Dissolution by board of directors and shareholders.
Section 33-14-103. Articles of dissolution.
Section 33-14-104. Revocation of dissolution.
Section 33-14-105. Effect of dissolution.
Section 33-14-106. Known claims against dissolved corporation.
Section 33-14-107. Unknown claims against dissolved corporation.
Section 33-14-200. Grounds for administrative dissolution.
Section 33-14-210. Procedure for and effect of administrative dissolution.
Section 33-14-220. Reinstatement following administrative dissolution.
Section 33-14-230. Appeal from denial of reinstatement.
Section 33-14-300. Grounds for judicial dissolution.
Section 33-14-310. Procedure for judicial dissolution.
Section 33-14-320. Receivership or custodianship.
Section 33-14-330. Decree of dissolution.
Section 33-14-400. Deposit with Department of Revenue.
Section 33-14-420. Claims against former shareholder of dissolved corporation.