South Carolina General Assembly
117th Session, 2007-2008

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A173, R178, S94

STATUS INFORMATION

General Bill
Sponsors: Senators Campsen, Knotts and Fair
Document Path: l:\council\bills\agm\18628mm07.doc

Introduced in the Senate on January 9, 2007
Introduced in the House on May 1, 2007
Last Amended on April 26, 2007
Passed by the General Assembly on January 30, 2008
Governor's Action: February 4, 2008, Signed

Summary: Elective share

HISTORY OF LEGISLATIVE ACTIONS 

     Date      Body   Action Description with journal page number
-------------------------------------------------------------------------------
  11/29/2006  Senate  Prefiled
  11/29/2006  Senate  Referred to Committee on Judiciary
    1/9/2007  Senate  Introduced and read first time SJ-67
    1/9/2007  Senate  Referred to Committee on Judiciary SJ-67
   1/17/2007  Senate  Referred to Subcommittee: Gregory (ch), Elliott, 
                        Anderson, Ritchie, Cleary
    4/4/2007  Senate  Committee report: Favorable Judiciary SJ-3
   4/17/2007  Senate  Amended SJ-20
   4/18/2007  Senate  Read second time SJ-15
   4/26/2007  Senate  Amended SJ-17
   4/26/2007  Senate  Read third time and sent to House SJ-17
    5/1/2007  House   Introduced and read first time HJ-6
    5/1/2007  House   Referred to Committee on Judiciary HJ-7
   1/23/2008  House   Committee report: Favorable Judiciary HJ-3
   1/29/2008  House   Read second time HJ-18
   1/30/2008  House   Read third time and enrolled HJ-17
   1/31/2008          Ratified R 178
    2/4/2008          Signed By Governor
   2/11/2008          Copies available
   2/11/2008          Effective date See Act  for Effective Date
   2/11/2008          Act No. 173

View the latest legislative information at the LPITS web site

VERSIONS OF THIS BILL

11/29/2006
4/17/2007
4/26/2007
1/23/2008

(Text matches printed bills. Document has been reformatted to meet World Wide Web specifications.)

(A173, R178, S94)

AN ACT TO AMEND SECTION 62-2-204, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO A SURVIVING SPOUSE'S RIGHTS TO AN ELECTIVE SHARE, HOMESTEAD ALLOWANCE, AND EXEMPT PROPERTY, SO AS TO PROVIDE FOR THE VOLUNTARY WAIVER OF THOSE RIGHTS UPON FAIR, REASONABLE, AND WRITTEN DISCLOSURE BY THE OTHER SPOUSE.

Be it enacted by the General Assembly of the State of South Carolina:

Waiver of elective rights

SECTION    1.    Section 62-2-204 of the 1976 Code is amended to read:

"Section 62-2-204.    (A)    The rights of a surviving spouse to an elective share, homestead allowance, and exempt property, or any of them, may be waived, wholly or partially, before or after marriage, by a written contract, agreement, or waiver voluntarily signed by the waiving party after fair and reasonable disclosures to the waiving party of the other party's property and financial obligations have been given in writing.

(B)    Unless it provides to the contrary, a waiver of all rights in the property or estate of a present or prospective spouse or a complete property settlement entered into after or in anticipation of separation or divorce is a waiver of all rights to elective share, homestead allowance, and exempt property by each spouse in the property of the other and a disclaimer by each of all benefits which would otherwise pass to him from the other by intestate succession or by virtue of the provisions of a will executed before the waiver or property settlement."

Time effective

SECTION    2.    This act takes effect upon approval by the Governor and applies to all waivers executed after that date.

Ratified the 31st day of January, 2008.

Approved the 4th day of February, 2008.

__________


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