All agreements to pay compensation to recover or assist in the recovery of property reported under Section 27-18-180, made within twenty-four months after the date payment or delivery is made under Section 27-18-200 are unenforceable. It is unlawful for any person to seek or receive from any person or contract with any person for any fee or compensation for locating or purporting to locate any property which he knows has been reported or paid or delivered to the administrator pursuant to this chapter, in excess of fifteen percent of the value thereof returned to the owner. Any person violating this section is guilty of a misdemeanor and, upon conviction, must be fined not less than the amount of the fee or charge he has sought or received or contracted for, nor more than ten times the amount, or imprisoned for not more than thirty days, or both.
S.C. Code Ann. § 27-18-360
Restrictions on agreements to recover or assist in recovery of reported property; penalties
Known as the Uniform Unclaimed Property Act
The act spans §§ 27–27 (44 sections).
Applied in 1 court decision — leading case 416 N.J. Super. 151 - Haven Savings Bank v. Zanolini (2010)
Most recently applied in 416 N.J. Super. 151 - Haven Savings Bank v. Zanolini (September 2010)
1988 Act No. 658, Part II, SECTION 34A.
Official source: South Carolina Legislature. Reproduced from public-domain South Carolina statutes; confirm against the official source for the current text. Not legal advice.