South Carolina Statutes
§ 27-18-150 — Credit memo.
(A)A credit memo issued in the ordinary course of an issuer's business which remains unclaimed by the owner for more than five years after becoming payable or distributable is presumed abandoned.
(B)In the case of a credit memo, the amount presumed abandoned is the amount credited to the recipient of the memo.
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South Carolina § 27-18-150 (Credit memo.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
HISTORY: 1988 Act No. 658, Part II, SECTION 34A; 2001 Act No. 43, SECTION 2.
Nearby Sections
15
§ 27-18-10
Short title.§ 27-18-150
Credit memo.§ 27-18-160
Unpaid wages and unpresented payroll checks.§ 27-18-175
Application of chapter.§ 27-18-20
Definitions.