House Bill 3243, effective August 1, 2019, revises the fee schedule of the clerks of court and registers of deeds for filing and recording various documents.
Single Business Enterprise Theory
Stoneledge at Lake Keowee Owners’ Assoc., Inc. v. IMK Dev. Co., No. 28071, decided December 8, 2021. The South Carolina Supreme Court reversed the lower courts’ denial of the motion for a directed verdict filed by defendants – an LLC and its managing member – in response to the plaintiff’s attempt to hold them liable on the single business enterprise theory. (Also referred to by the court as the amalgamation theory.) The court stated that the single business enterprise theory is not to be used to amalgamate an individual with a company. It exists as an equitable remedy for plaintiffs whenever they have been wronged by business entities with blurred identities.
April 23, 2021 — The South Carolina Secretary of State issued an updated advisory on April 23, 2021 regarding what it called “continued scams offering to sell bogus documents and certified copies to businesses”. The advisory alerts businesses to a “scam [that] purports to sell businesses a phony document that is not issued by the Secretary of State’s Office, and that serves no legitimate purpose in verifying a business’s good standing in South Carolina”. The updated advisory can be read in full on the Secretary of State’s website.
March 12, 2021 — The South Carolina Secretary of State issued an advisory on March 12, warning of what was referred to as “a ‘scam’ selling bogus certificates of status to businesses.” The advisory states that this is not an official certificate issued by the state and is not required to transact business in the state. The advisory can be read in full on the Secretary of State’s website.