(A) The State Treasurer is the custodian of the Self-Sufficiency Trust Fund and pursuant to an agreement with the trustee of a self-sufficiency trust may accept money from a self-sufficiency trust in the name of a beneficiary for deposit in the Self-Sufficiency Trust Fund. The treasurer shall maintain a separate account in the Self-Sufficiency Trust Fund for each named beneficiary and shall promptly credit the account of a beneficiary with money received from a self-sufficiency trust on behalf of that beneficiary.
(B) The agreement, naming one or more beneficiaries residing in this State who are developmentally disabled, mentally ill, or physically handicapped, must specify the supplemental care or treatment to be provided for each named beneficiary with the money deposited in the Self-Sufficiency Trust Fund.
HISTORY: 1992 Act No. 385, Section 1.
Structure South Carolina Code of Laws
Section 44-28-10. Establishment of fund; purpose.
Section 44-28-20. Definition of "self-sufficiency trust."
Section 44-28-50. Receipt of monies from fund not to reduce, impair, or diminish other benefits.
Section 44-28-70. Crediting and allocation of interest.
Section 44-28-310. Establishment of fund; purpose.
Section 44-28-320. Source of monies for fund.
Section 44-28-330. Use of monies in fund.
Section 44-28-340. Interest earned to be credited to fund.
Section 44-28-350. Receipt of monies from fund not to reduce, impair, or diminish other benefits.