There is a newer version of the South Carolina Code of Laws
2013 South Carolina Code of Laws
Title 9 - Retirement Systems
CHAPTER 12 - QUALIFIED EXCESS BENEFITS ARRANGEMENTS
SECTION 9-12-100. QEBA funds unsecured.
SC Code § 9-12-100 (2013) What's This?
Nothing in this chapter shall be construed as providing for assets to be held in trust or escrow or any form of asset segregation for members, retired members, or beneficiaries. To the extent any person acquires the right to receive benefits under a QEBA, the right shall be no greater than the right of any unsecured general creditor of the State of South Carolina.
HISTORY: 2008 Act No. 311, Section 28, eff June 4, 2008.
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