2017 South Carolina Code of Laws
Title 39 - Trade and Commerce
CHAPTER 22 - STATE WAREHOUSE SYSTEM
Section 39-22-15. "Loss" defined.
For purposes of this chapter, "loss" means any monetary loss over and beyond the amount protected by a warehouseman's bond sustained as a result of storing a commodity in a state-licensed warehouse including, but not limited to, any monetary loss over and beyond the amount protected by a warehouseman's bond sustained as a result of the warehouseman's bankruptcy, embezzlement, or fraud.
HISTORY: 1998 Act No. 375, Section 1, eff May 26, 1998.
Editor's Note
1998 Act No. 375, Section 6, effective May 26, 1998, provides as follows:
"This act takes effect upon approval by the Governor. The provisions of Sections 1 and 5 are remedial and apply retroactively to July 1, 1997, so as to permit reimbursement of losses suffered or incurred by depositors on and after July 1, 1997."
