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H. 3968
STATUS INFORMATION
General Bill
Sponsors: Reps. Sottile and Sandifer
Document Path: l:\council\bills\agm\18615ab15.docx
Introduced in the House on April 14, 2015
Currently residing in the House Committee on Labor, Commerce and Industry
Summary: Beneficiary rights in a trust based timeshare
HISTORY OF LEGISLATIVE ACTIONS
Date Body Action Description with journal page number
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4/14/2015 House Introduced and read first time (House Journal-page 104)
4/14/2015 House Referred to Committee on Labor, Commerce and Industry
(House Journal-page 104)
View the latest legislative information at the website
VERSIONS OF THIS BILL
TO AMEND THE CODE OF LAWS OF SOUTH CAROLINA, 1976, BY ADDING SECTION 27-32-85 SO AS TO PROVIDE PURCHASE OF BENEFICIARY RIGHTS IN A TRUST-BASED TIMESHARE, WHERE ONE OR MORE OF THE PROPERTIES CONTAINED IN THE TRUST IS LOCATED IN THIS STATE, IS A REAL PROPERTY OWNERSHIP CONVEYANCE SUBJECT TO CERTAIN CLOSING REQUIREMENTS APPLICABLE TO TIMESHARES.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Article 1, Chapter 32, Title 27 of the 1976 Code is amended by adding:
"Section 27-32-85. Purchase of beneficiary rights in a trust-based timeshare, where one or more of the properties contained in the trust is located in this State, is a real property ownership conveyance subject to all closing requirements contained within Section 27-32-410."
SECTION 2. This act takes effect upon approval by the Governor.
This web page was last updated on April 17, 2015 at 11:31 AM