South Carolina Tax Commission v. York Electric Cooperative, Inc.

Lewis, Chief Justice:

The General Assembly has adopted the Uniform Disposition of Unclaimed Property Act (Section 27-17-10 et seq. of the 1976 Code of Laws), under which the holders of property, presumed abandoned under the statute, are required to pay or deliver to the South Carolina Tax Commission all specified abandoned property. However, Section 27-17-340 of the Act provides:

The provisions of this chapter shall not apply to any property in an amount less than twenty-five dollars.

York Electric Cooperative (York) is subject to the provisions of the foregoing Act and holds unclaimed money or…