Home/South Carolina/Statutes/Title 8: PUBLIC OFFICERS AND EMPLOYEES/Ch. 23: DEFERRED COMPENSATION PROGRAM/§ 8-23-80
South Carolina Statutes

§ 8-23-80 — Limitation on financial liability of State or political subdivisions.

South Carolina·Title 8 PUBLIC OFFICERS AND EMPLOYEES·Ch. 23 DEFERRED COMPENSATION PROGRAM
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.

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South Carolina § 8-23-80 (Limitation on financial liability of State or political subdivisions.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Legislative History

HISTORY: 1977 Act No. 97 SECTION 8.

Nearby Sections

11
§ 8-23-10
Declaration of purpose.
§ 8-23-100
Withdrawal from program.
§ 8-23-110
Employer contributions; matching and other contributions by political subdivisions of State; determination of amount and terms of State contributions.
§ 8-23-20
Deferred Compensation Program.
§ 8-23-30
State and political subdivisions may agree to defer percentage of employees' compensation.
§ 8-23-40
Director or principal fiscal officer of state agencies and political subdivisions may agree to defer any portion of employee's compensation.
§ 8-23-50
Payment of premiums.
§ 8-23-60
"Employees" defined.
§ 8-23-70
Program additional to other retirement; pension or benefit systems; taxation of deferred sums.
§ 8-23-80
Limitation on financial liability of State or political subdivisions.
§ 8-23-90
No cost or liability to State or political subdivisions other than incidental expenses.
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