The designation of a transfer on death beneficiary on a registration in beneficiary form has no effect on ownership until the owner's death. A registration of a security in beneficiary form may be canceled or changed at any time by the sole owner or all then surviving owners, without the consent of the beneficiary.
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.