South Carolina Code 27-18-290. Destruction or disposal by administrator of property with insubstantial commercial value; immunity from liability
Current as of: 2023 | Check for updates
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Terms Used In South Carolina Code 27-18-290
- Administrator: means the State Treasurer, his agents, or representatives. See South Carolina Code 27-18-20
- Holder: means a person, wherever organized or domiciled, who is:
(a) in possession of property belonging to another;
(b) a trustee; or
(c) indebted to another on an obligation. See South Carolina Code 27-18-20 - State: means any state, district, commonwealth, territory, insular possession, or any other area subject to the legislative authority of the United States. See South Carolina Code 27-18-20
If the administrator determines after investigation that any property delivered under this chapter has insubstantial commercial value, the administrator may destroy or otherwise dispose of the property at any time. No action or proceeding may be maintained against the State or any officer or against the holder for or on account of any action taken by the administrator pursuant to this section.