South Carolina Statutes
§ 39-22-15 — "Loss" defined.
For purposes of this chapter, "loss" means any monetary loss over and beyond the amount protected by a warehouseman's bond sustained as a result of storing a commodity in a state-licensed warehouse including, but not limited to, any monetary loss over and beyond the amount protected by a warehouseman's bond sustained as a result of the warehouseman's bankruptcy, embezzlement, or fraud.
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Legislative History
HISTORY: 1998 Act No. 375, SECTION 1, eff May 26, 1998. Editor's Note 1998 Act No. 375, SECTION 6, effective May 26, 1998, provides as follows: "This act takes effect upon approval by the Governor. The provisions of Sections 1 and 5 are remedial and apply retroactively to July 1, 1997, so as to permit reimbursement of losses suffered or incurred by depositors on and after July 1, 1997."
Nearby Sections
15
§ 39-22-100
State guarantee; limitations.§ 39-22-110
Required identification tags on bales.§ 39-22-120
Warehouse insurance requirements.§ 39-22-130
Inspection of warehouses; inventory.§ 39-22-15
"Loss" defined.§ 39-22-150
State warehouse system, disposition of revenues; fees; guaranty fund; claims against fund.§ 39-22-160
Annual report.§ 39-22-170
State's liability limited.§ 39-22-190
Record keeping requirements.§ 39-22-200
Receipts, restrictions; exceptions.§ 39-22-30
Department to promulgate regulations.