Credit memo
Known as the Uniform Unclaimed Property Act
The act spans §§ 27–27 (44 sections).
1988 Act No. 658, Part II, SECTION 34A; 2001 Act No. 43, SECTION 2.
(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.
Official source: South Carolina Legislature. Reproduced from public-domain South Carolina statutes; confirm against the official source for the current text. Not legal advice.