A bill

 

TO AMEND THE SOUTH CAROLINA CODE OF LAWS BY AMENDING SECTION 62-6-101, RELATING TO DEFINITIONS, SO AS TO INCLUDE PATRONAGE CAPITAL ACCOUNTS OF AN ELECTRIC COOPERATIVE OR A TELEPHONE COOPERATIVE.

 

Be it enacted by the General Assembly of the State of South Carolina:

 

SECTION 1.  Section 62-6-101(1) of the S.C. Code is amended to read:

 

    (1) "Account" means:

       (a) a contract of deposit between a depositor and a financial institution, and includes a checking account, savings account, certificate of deposit, share account, and other like arrangements; or

       (b) a patronage capital account of an electric cooperative or a telephone cooperative pursuant to Sections 33-49-460 and 33-46-460.

 

SECTION 2.  This act takes effect on July 1, 2025.

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