South Carolina Code 37-15-20. Definitions
Current as of: 2023 | Check for updates
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As used in this chapter:
(1) "Anything of value", "item of value", or "item" means an item or service with monetary value.
Terms Used In South Carolina Code 37-15-20
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
- item: means an item or service with monetary value. See South Carolina Code 37-15-20
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
(2) "Handling charge" means a charge, fee, or sum of money that is paid by a consumer to receive a prize, gift, or an item of value including, but not limited to, promotional fees, redemption fees, registration fees, or delivery costs.
(3) "Person" means an individual, corporation, trust, partnership, association, and any other legal entity.