(A) During the lifetime of all parties, an account belongs to the parties in proportion to the net contribution of each to the sums on deposit, unless there is clear and convincing evidence of a different intent.
(B) A beneficiary in an account having a POD designation has no right to sums on deposit during the lifetime of any party.
(C) An agent in an account with an agency designation has no beneficial right to sums on deposit.
HISTORY: 1986 Act No. 539, Section 1; 1987 Act No. 171, Section 69; 1976 Code Section 62-6-103; 2013 Act No. 100, Section 2, eff January 1, 2014.
Effect of Amendment
The 2013 amendment rewrote the section.
Structure South Carolina Code of Laws
Title 62 - South Carolina Probate Code
Article 6 - Nonprobate Transfers
Section 62-6-101. Definitions.
Section 62-6-102. Applicability of article.
Section 62-6-104. Short forms for single- and multiple-party accounts.
Section 62-6-105. Designation of agent; authority of agent.
Section 62-6-106. Applicability of Part 2.
Section 62-6-201. Ownership during lifetime.
Section 62-6-202. Right of survivorship.
Section 62-6-203. Rights of parties and beneficiaries.
Section 62-6-204. Transfers not testamentary.
Section 62-6-205. Rights of creditors.
Section 62-6-301. Contract of deposit for a multiple-party account.
Section 62-6-302. Multiple-party accounts may be paid on request to one or more parties.
Section 62-6-303. Payment of POD account.
Section 62-6-304. Payment to agent.