Home/South Carolina/Statutes/Title 27: PROPERTY AND CONVEYANCES/Ch. 18: UNIFORM UNCLAIMED PROPERTY ACT/§ 27-18-150
South Carolina Statutes

§ 27-18-150 — Credit memo.

South Carolina § 27-18-150
JurisdictionSouth Carolina
Title 27PROPERTY AND CONVEYANCES
Ch. 18UNIFORM UNCLAIMED PROPERTY ACT

This text of South Carolina § 27-18-150 (Credit memo.) is published on Counsel Stack Legal Research, covering South Carolina primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
S.C. Code Ann. § 27-18-150 (2026).

Text

(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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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.
§ 27-18-100
Business associations; refunds ordered by court or administrative agency.
§ 27-18-110
Dormancy period for stock or other equity interest in business association and certain debts; calculating whether stock or security interest is unclaimed.
§ 27-18-120
Intangible property distributable in course of dissolution of business association.
§ 27-18-130
Intangible property held in fiduciary capacity for benefit of another; funds in individual retirement account or retirement plan for self-employed individuals or similar plan or account.
§ 27-18-140
Unclaimed intangible property presumed abandoned; tax refund checks.
§ 27-18-150
Credit memo.
§ 27-18-160
Unpaid wages and unpresented payroll checks.
§ 27-18-170
Contents of safe deposit boxes or other safekeeping repositories.
§ 27-18-175
Application of chapter.
§ 27-18-180
Report of unclaimed property; notice to apparent owner.
§ 27-18-190
Administrator's notice of abandoned property; publication; contents; exceptions.
§ 27-18-20
Definitions.
§ 27-18-200
Payment or delivery of abandoned property to administrator; exceptions; holder of stocks or similar intangible ownership interests relieved of liability upon delivery.
§ 27-18-210
Liability of holder after payment or delivery to administrator; payments to owners of property turned over to administrator; recovery of property turned over to administrator; administrator to defend holder against claims for property paid or delivered to administrator; "good faith" defined; payment of costs of safe deposit box or other safekeeping repository.
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Bluebook (online)
South Carolina § 27-18-150, Counsel Stack Legal Research, https://law.counselstack.com/statute/sc/18/27-18-150.