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S. 128
STATUS INFORMATION
General Bill
Sponsors: Senator Knotts
Document Path: l:\council\bills\ggs\22742sl03.doc
Introduced in the Senate on January 14, 2003
Currently residing in the Senate Committee on Labor, Commerce and Industry
Summary: Title abstractor, time limit for attorney to pay, penalties
HISTORY OF LEGISLATIVE ACTIONS
Date Body Action Description with journal page number
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1/8/2003 Senate Prefiled
1/8/2003 Senate Referred to Committee on Labor, Commerce and Industry
1/14/2003 Senate Introduced and read first time SJ-72
1/14/2003 Senate Referred to Committee on Labor, Commerce and Industry
SJ-72
View the latest legislative information at the LPITS web site
VERSIONS OF THIS BILL
TO AMEND THE CODE OF LAWS OF SOUTH CAROLINA, 1976, BY ADDING SECTION 40-5-390 SO AS TO PROVIDE A TIME LIMIT FOR AN ATTORNEY TO PAY A TITLE ABSTRACTOR, PROVIDE A REMEDY FOR A TITLE ABSTRACTOR WHO IS NOT PAID BY THE ATTORNEY WHO REQUESTED THE TITLE ABSTRACT, AND PROVIDE A PENALTY.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Article 5, Chapter 5, Title 40 of the 1976 Code is amended by adding:
"Section 40-5-390. (A) An attorney shall pay a title abstractor for services rendered in connection with the title search within the earlier of:
(1) seven days after the closing of the property searched; or
(2) forty-five days after the attorney receives the completed title work.
(B) If a title abstractor is not paid by the attorney who requested the services within the time specified in subsection (A), the title abstractor may withdraw the abstractor's certification of title.
(C) A person who violates a provision of this section is subject to a civil fine of not more than five hundred dollars."
SECTION 2. This act takes effect upon approval by the Governor.
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