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Subcommittee gives favorable report to bill treating cooperative patronage capital accounts as probate accounts
Summary
House Bill 3,914 received a favorable 5-0 report after members agreed the South Carolina Probate Code should explicitly include patronage capital accounts from electric and telephone cooperatives in the definition of "account," clarifying how such funds pass on death.
The Domestic Relations, Business and Probate Law Subcommittee voted 5-0 to give House Bill 3,914 a favorable report after members agreed the bill clarifies how cooperative "patronage capital" accounts are treated under the South Carolina Probate Code.
House Bill 3,914 would expand the probate code's definition of "account" to include patronage capital accounts held by members of…
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