South Carolina Statutes
§ 62-6-303 — Payment of POD account.
A financial institution, on request, may pay sums on deposit in an account with a POD designation:
(1)to one or more of the parties, whether or not another party is disabled, incapacitated, or deceased when the payment is requested and whether or not a party survives another party;
(2)to the beneficiary or beneficiaries, if proof of death is presented to the financial institution showing that the beneficiary or beneficiaries survived all persons named as parties;
(3)to the personal representative of a deceased party, if proof of death is presented to the financial institution showing that the deceased party was the survivor of all other persons named on the account either as a party or beneficiary; or (4) in accordance with a court order directing the payment of the sums on deposit.
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South Carolina § 62-6-303 (Payment of POD account.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
HISTORY: 1986 Act No. 539, SECTION 1; 1987 Act No. 171, SECTION 74; 1976 Code SECTION 62-6-110; 2013 Act No. 100, SECTION 2, eff January 1, 2014.
Nearby Sections
15
§ 62-1-100
Effective date.§ 62-1-101
Short title.§ 62-1-102
Purposes; rules of construction.§ 62-1-104
Severability.§ 62-1-105
Construction against implied repeal.§ 62-1-106
Effect of fraud and evasion.§ 62-1-107
Evidence as to death or status.§ 62-1-108
Acts by holder of general power.§ 62-1-111
Authority to award costs and expenses.§ 62-1-112
Inherent power of court.§ 62-1-201
General definitions.§ 62-1-301
Territorial application.