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2017 South Carolina Code of Laws
Title 34 - Banking, Financial Institutions and Money
CHAPTER 26 - SOUTH CAROLINA CREDIT UNION ACT
Section 34-26-770. Payable-on-death share accounts; effect of transfer of account.
Universal Citation: SC Code § 34-26-770 (2017)
Notwithstanding any other provision of law, a credit union may establish share and deposit accounts payable to one or more persons during their lifetimes and on the death of all of them to one or more payable-on-death payees. Any transfer to a payable-on-death payee is effective by reason of the account contract and shall not be considered to be a testamentary transfer.
HISTORY: 1996 Act No. 371, Section 1, eff May 29, 1996.
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