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Subcommittee backs change to probate code to include cooperative patronage capital accounts
Summary
House Bill 3,914 received a favorable 5-0 report to amend South Carolina's probate code so patronage capital accounts held by electric or telephone cooperatives are treated as accounts for probate purposes.
The Domestic Relations Business and Probate Law Subcommittee voted 5-0 to give House Bill 3,914 a favorable report; the bill would amend the South Carolina Probate Code to include patronage capital accounts held by members of electric or telephone cooperatives within the code's definition of "account."
Patronage capital accounts reflect a cooperative member's allocated share…
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