Plain English Breakdown
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H4748 • 2026
A BILL TO AMEND THE SOUTH CAROLINA CODE OF LAWS BY ADDING SECTION 40-59-255 SO AS TO REQUIRE RESIDENTIAL BUILDERS AND RESIDENTIAL SPECIALTY CONTRACTORS TO HOLD CLIENT FUNDS IN ESCROW OR TRUST ACCOUNTS, TO ESTABLISH RELATED RECORDKEEPING REQUIREMENTS, TO PROHIBIT COMMINGLING, TO PROVIDE CRIMINAL AND CIVIL PENALTIES, AND TO AUTHORIZE THE DEPARTMENT OF LABOR, LICENSING AND REGULATION TO ENFORCE THE PROVISIONS OF THIS ACT.
A BILL TO AMEND THE SOUTH CAROLINA CODE OF LAWS BY ADDING SECTION 40-59-255 SO AS TO REQUIRE RESIDENTIAL BUILDERS AND RESIDENTIAL SPECIALTY CONTRACTORS TO HOLD CLIENT FUNDS IN ESCROW OR TRUST ACCOUNTS, TO ESTABLISH RELATED RECORDKEEPING REQUIREMENTS, TO PROHIBIT COMMINGLING, TO PROVIDE CRIMINAL AND CIVIL PENALTIES, AND TO AUTHORIZE THE DEPARTMENT OF LABOR, LICENSING AND REGULATION TO ENFORCE THE PROVISIONS OF THIS ACT.
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Official Summary Text
A BILL TO AMEND THE SOUTH CAROLINA CODE OF LAWS BY ADDING SECTION 40-59-255 SO AS TO REQUIRE RESIDENTIAL BUILDERS AND RESIDENTIAL SPECIALTY CONTRACTORS TO HOLD CLIENT FUNDS IN ESCROW OR TRUST ACCOUNTS, TO ESTABLISH RELATED RECORDKEEPING REQUIREMENTS, TO PROHIBIT COMMINGLING, TO PROVIDE CRIMINAL AND CIVIL PENALTIES, AND TO AUTHORIZE THE DEPARTMENT OF LABOR, LICENSING AND REGULATION TO ENFORCE THE PROVISIONS OF THIS ACT.