A security, whether evidenced by a certificate or account, is registered in beneficiary form when the registration includes a designation of a beneficiary to take ownership at the death of the owner or the death of all multiple owners.
S.C. Code Ann. § 35-6-40
Designation of beneficiary to take ownership upon death of owner or owners to be included for security to be registered in beneficiary form
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.