S.C. Code Ann. § 35-6-40 – Designation of beneficiary to take ownership upon death of owner or owners to be included for security to be registered in beneficiary form

A security, whether evidenced by a certificate or account, is registered in beneficiary form when the registration includes a designation of a beneficiary to take ownership at the death of the owner or the death of all multiple owners.

HISTORY: 1997 Act No. 102, Section 1, eff June 13, 1997.

Editor's Note

1997 Act No. 102, Section 2, provides as follows:

"SECTION 2. This act takes effect upon approval by the Governor, and applies to registrations of securities in beneficiary form made before or after the effective date of this act by decedents dying on or after the effective date of this act."