South Carolina State Seal
 

 
State of South Carolina
Unclaimed Property Holding Periods

PROPERTY

UNCLAIMED AFTER CODE
Banks and Financial Organizations    

Certified checks, cashiers checks, drafts, expense checks *

5 years 27-1 8-60

Demand (checking), savings, or matured time deposits (CDs) **

5 years 27-1 8-70

Funds paid toward the purchase of shares or other interest in the organization, including deposits made and interest and dividends thereon

5 years 27-1 8-70

Money orders

7 years 27-1 8-50(B)

Safe deposit box or safe-keeping repositories

5 years after lease or rental period expires 27-1 8-1 70
(See 34-19-70 thru 34-19-110 for proper treatment)

Travelers checks *

15 years 27-18-50(A)
Insurance Policies or Annuity Contracts    

Funds held or owing under any life or endowment policy or annuity contract

5 years after policy has matured or terminated and is due
or
5 years after the insured has died
or
2 years after insured has attained the limiting age under mortality tables and there are no assignments, readjustments, premium payments. loans or written communication
27-1 8-80(A)

27-1 8-80(C) (1)

27-1 8-80(C) (2)

Funds held or owing under any fire, casualty, or surety insurance policy or contract either to an insured, a principal, or a claimant

5 years 27-1 8-80(A)
Utility Companies and Electric Cooperatives    

Deposits (including interest) or advance payments

1 year after service ends 27-1 8-90(A)

Ordered refunds (including interest)

5years 27-1 8-90(B)

Patronage Allocations (Cooperatives Only)

7 years 27-1 8-30(C)
Business Associations

Dividends and other distributions

5 years 27-18-30

Bonds

5 years 27-1 8-30

Ordered refunds

1 year after final determination 27-18-100

Underlying Stock Shares

7 years and 7 dividend distributions 27-18-110

Proceeds of dissolution

1 year after date of final distribution 27-1 8-1 20
Trustees and Fiduciaries    

Trusts or other funds held in a fiduciary capacity

5 years 27-18-130(A)

Mandatory distribution of IRA or similar account

5 years 27-18-130(B)
Court, Government, Public Corporation, or Public Authority 5 years 27-18-140
Miscellaneous

Gift certificate or Credit memo

5 years 27-18-150

Wages

1 year 27-18-160

All other intangible property held in ordinary course of business

5 years 27-1 8-30

*A holder may not deduct from the amount of travelers check, money order, cashiers check, certified check, or similar instrument any charge imposed by reason of the failure to present the instrument for payment, unless there is a valid and enforceable written contract between the holder or issuer and the owner of the instrument

**With respect to demand, savings and matured time deposits, a holder may not impose a charge in excess of one dollar a month due to dormancy or inactivity or cease payment of interest unless there is an enforceable written contract between the holder and the owner or the property
 
 

Return to Unclaimed Property Home Page