A security may be registered in beneficiary form, if the form is authorized by this chapter, by the laws of the state of organization of the issuer or registering entity; by the laws of the state of the location of the registering entity's principal office, the office of its transfer agent, or its office making the registration; or by the laws of the state listed as the owner's address at the time of registration. A registration governed by the law of a jurisdiction in which these provisions are not in force or was not in force when a registration in beneficiary form was made is nevertheless presumed to be valid and authorized as a matter of contract law.
S.C. Code Ann. § 35-6-30
Security allowed to be registered in beneficiary form when form authorized by certain laws; presumption of validity
Known as the Uniform Transfer on Death Security Registration Act
The act spans §§ 35–35 (10 sections).
1997 Act No. 102, SECTION 1, eff June 13, 1997.
Official source: South Carolina Legislature. Reproduced from public-domain South Carolina statutes; confirm against the official source for the current text. Not legal advice.