Only individuals whose registration of a security shows sole ownership by one individual or multiple ownership by two or more with right of survivorship, rather than as tenants in common, may obtain registration in beneficiary form. Multiple owners of a security registered in beneficiary form hold as joint tenants with right of survivorship, and not as tenants in common.
HISTORY: 1997 Act No. 102, Section 1, eff June 13, 1997.
Structure South Carolina Code of Laws
Chapter 6 - Uniform Transfer On Death Security Registration Act
Section 35-6-10. Short title; definitions.
Section 35-6-50. Certain words signify registration in beneficiary form.
Section 35-6-60. Ownership not affected until owner's death; cancellation or change.
Section 35-6-80. Registering entities; duties and protections.