H4660

Amends South Carolina law to bar enforcement of claims against dissolved corporations unless proceedings are initiated within five years of.

The bill amends Section 33-14-107 of the South Carolina Code to change the statute of limitations for claims against dissolved corporations. It specifies that enforcement proceedings must be initiated within five years after the corporation's notice of dissolution is published in a newspaper. This applies to claimants who did not receive written notice, those whose claims were sent but not acted upon, and those with contingent claims or claims based on post-dissolution events. The change takes effect upon approval by the Governor.