2013 South Carolina Code of Laws
Title 38 - Insurance
CHAPTER 65 - GROUP LIFE INSURANCE
SECTION 38-65-100. Spendthrift provisions in settlement agreements are valid.
When the proceeds of a life insurance policy becoming a claim by death of the insured are left with an insurance company under a trust or other agreement, the benefits accruing thereunder after the death of the insured are not transferable nor subject to computation or incumbrance nor to legal process, except in an action to recover for necessaries if the parties to the trust or other agreement so agree.
HISTORY: Former 1976 Code Section 38-9-350 [1953 (48) 493; 1962 Code Section 37-169.1] recodified as Section 38-65-100 by 1987 Act No. 155, Section 1.
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