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Subcommittee backs change to probate code to include cooperative patronage accounts
Summary
House Bill 3,914 would amend the South Carolina Probate Code to treat patronage capital accounts held by electric or telephone cooperatives as financial accounts for probate purposes; the subcommittee gave the bill a favorable report 5-0.
The Domestic Relations Business and Probate Law Subcommittee on Thursday gave a favorable report to House Bill 3,914, a measure that would amend the South Carolina Probate Code to include patronage capital accounts held by members of electric or telephone cooperatives in the definition of “account.”
Patronage capital accounts record a cooperative member’s share of surplus…
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