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Subcommittee moves to treat cooperative patronage capital accounts as probate accounts
2964573 · April 8, 2025
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Summary
House Bill 3,914 would amend the South Carolina Probate Code to include patronage capital accounts from electric and telephone cooperatives in the definition of 'account,' clarifying how those funds pass at death.
A South Carolina House subcommittee issued a favorable report Thursday on House Bill 3,914, which would amend the South Carolina Probate Code to include patronage capital accounts held by members of electric and telephone cooperatives in the definition of "account." The change clarifies whether such funds pass by survivorship or into a decedent’s estate.
The bill’s…
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