Any contract which does not provide cash surrender benefits or does not provide death benefits at least equal to the minimum nonforfeiture amount prior to the commencement of any annuity payments shall include a statement in a prominent place in the contract that those benefits are not provided.
S.C. Code Ann. § 38-69-290
Statements required in certain contracts
Known as the Standard Nonforfeiture Law
The act spans §§ 38-63-510 to 38-69-330 (31 sections).
Former 1976 Code SECTION 38-8-90 [1978 Act No. 517 SECTION 9] recodified as SECTION 38-69-290 by 1987 Act No. 155, SECTION 1.
Official source: South Carolina Legislature. Reproduced from public-domain South Carolina statutes; confirm against the official source for the current text. Not legal advice.