Legal Opinion
South Carolina Tax Commission v. Metropolitan Life Insurance
Supreme Court of South Carolina
Decided December 15, 1975No. 20130PublishedCited by 17 opinions
1Opinion of the Court
Ness, Justice:
The South Carolina Tax Commission seeks to have Metropolitan Life Insurance Company pay it the maturity *38value of three thousand eighty (3,080) unclaimed life insurance policies. The policies matured by 1965 and the Commission contends the funds are “abandoned property” within the meaning of the Uniform Disposition of Unclaimed Property Act. S. C. Code, Section 57-240.1 et seq. (1974 Cum. Supp.). The Uniform Act was adopted in South Carolina in 1971. Pursuant to it, the Commission acts as a conservator of all “abandoned property.”
The Act requires every holder of funds or property…
2Cases cited4 opinions
- Bank of Am. Nat'l Trust & Sav. Ass'n v. CranstonCalifornia Court of Appeal · 1967
- Satcher v. Woodmen of the World Life Ins. Soc.Supreme Court of South Carolina · 1942
- Hardin v. HorgerSupreme Court of South Carolina · 1969
- In re Physicians & Dentists Investment Corp.District Court, D. South Carolina · 1966
3Cited by17 opinions
- Riggs National Bank of Washington, D.C. v. District of ColumbiaDistrict of Columbia Court of Appeals · 1990
- State Ex Rel. Marsh v. Nebraska State Board of AgricultureNebraska Supreme Court · 1984
- Litchfield Co. of South Carolina, Inc. v. KiriakidesCourt of Appeals of South Carolina · 1986
- City of North Myrtle Beach v. Lewis-DavisCourt of Appeals of South Carolina · 2004
- Presley v. City of MemphisCourt of Appeals of Tennessee · 1988
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