The financial liability of the State or political subdivision under a deferred compensation program shall be limited in each instance to the value of the particular fixed or variable annuity, insurance, savings or mutual fund contract purchased under this program and the State or political subdivision shall not be liable for any change in value of a policy at the time of settlement.
HISTORY: 1977 Act No. 97 Section 8.
Structure South Carolina Code of Laws
Title 8 - Public Officers and Employees
Chapter 23 - Deferred Compensation Program
Section 8-23-10. Declaration of purpose.
Section 8-23-20. Deferred Compensation Program.
Section 8-23-50. Payment of premiums.
Section 8-23-60. "Employees" defined.
Section 8-23-80. Limitation on financial liability of State or political subdivisions.