What is a holder’s obligation under the South Carolina Uniform Unclaimed Property Act?
The Act requires all holders examine their records each year to determine whether they are in possession of any unclaimed property and if so, attempt to locate the rightful owners of accounts of $50 or more. If the holder is unsuccessful in locating the owners, the holder is required to remit the property to the State Treasurer’s Office along with a report including the names and last-known addresses of the owners.
