South Carolina Code 27-18-76. Claims for escheated United States savings bonds or proceeds from bond
Current as of: 2023 | Check for updates
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Terms Used In South Carolina Code 27-18-76
- Administrator: means the State Treasurer, his agents, or representatives. See South Carolina Code 27-18-20
- Person: means an individual, business association, state or other government, governmental subdivision or agency, public corporation, public authority, estate, trust, two or more persons having a joint or common interest, or any other legal or commercial entity. 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
A person claiming a United States savings bond escheated to the State under § 27-18-75, or for the proceeds from the bond, may file a claim with the administrator. The administrator may approve the claim if the person is able to provide sufficient proof of the validity of the person’s claim. No costs of prior court action regarding the savings bond or bonds which are the subject of the person’s claim may be taxed against that person. Once a bond, or the proceeds from the bond, are remitted to a claimant, no action thereafter may be maintained by any other person against the administrator, the State, or any officer of the State, for or on account of the funds. The person’s sole remedy, if any, must be against the claimant who received the bond or proceeds from the bond.