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Subcommittee clears bill adding cooperative patronage capital to probate account definition
Summary
House Bill 3,914 would amend the South Carolina Probate Code to treat patronage capital accounts held by electric or telephone coop members as accounts for probate purposes; the subcommittee gave the bill a favorable report.
The Domestic Relations, Business and Probate Law Subcommittee gave a favorable report to House Bill 3,914, which would amend the South Carolina Probate Code to include patronage capital accounts held by members of electric or telephone cooperatives within the definition of an "account" for probate purposes.
Patronage capital accounts reflect a cooperative member’s share of surplus…
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