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A250, R261, H4673

STATUS INFORMATION

General Bill
Sponsors: Reps. G.M. Smith, Brawley and Weeks
Document Path: l:\council\bills\ggs\22065zw18.docx

Introduced in the House on January 24, 2018
Introduced in the Senate on January 31, 2018
Last Amended on April 26, 2018
Passed by the General Assembly on May 2, 2018
Governor's Action: May 18, 2018, Signed

Summary: Revocation of certain beneficiary designations

HISTORY OF LEGISLATIVE ACTIONS

     Date      Body   Action Description with journal page number
-------------------------------------------------------------------------------
   1/24/2018  House   Introduced and read first time (House Journal-page 26)
   1/24/2018  House   Referred to Committee on Judiciary 
                        (House Journal-page 26)
   1/25/2018  House   Member(s) request name added as sponsor: Brawley, Weeks
   1/25/2018  House   Recalled from Committee on Judiciary 
                        (House Journal-page 51)
   1/30/2018  House   Amended (House Journal-page 21)
   1/30/2018  House   Read second time (House Journal-page 21)
   1/30/2018  House   Roll call Yeas-114  Nays-0 (House Journal-page 22)
   1/31/2018  House   Read third time and sent to Senate (House Journal-page 7)
   1/31/2018  Senate  Introduced and read first time (Senate Journal-page 10)
   1/31/2018  Senate  Referred to Committee on Judiciary 
                        (Senate Journal-page 10)
    3/1/2018  Senate  Referred to Subcommittee: Massey (ch), McElveen, Senn
   4/18/2018  Senate  Committee report: Favorable with amendment Judiciary 
                        (Senate Journal-page 13)
   4/26/2018  Senate  Committee Amendment Adopted (Senate Journal-page 26)
   4/26/2018  Senate  Read second time (Senate Journal-page 26)
   4/26/2018  Senate  Roll call Ayes-39  Nays-1 (Senate Journal-page 26)
    5/1/2018  Senate  Read third time and returned to House with amendments 
                        (Senate Journal-page 22)
    5/2/2018  House   Concurred in Senate amendment and enrolled 
                        (House Journal-page 82)
    5/2/2018  House   Roll call Yeas-93  Nays-0 (House Journal-page 83)
   5/14/2018          Ratified R 261
   5/18/2018          Signed By Governor
   5/30/2018          Effective date 05/18/18
   5/31/2018          Act No. 250

View the latest legislative information at the website

VERSIONS OF THIS BILL

1/24/2018
1/25/2018
1/25/2018-A
1/30/2018
4/18/2018
4/26/2018
4/26/2018

(A250, R261, H4673)

AN ACT TO AMEND SECTION 62-2-507, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO THE REVOCATION OF CERTAIN BENEFICIARY DESIGNATIONS BY DIVORCE, ANNULMENT, OR AN ORDER TERMINATING MARITAL PROPERTY RIGHTS, SO AS TO EXCLUDE FROM THE DEFINITION OF THE TERM "GOVERNING INSTRUMENT" A BENEFICIARY DESIGNATION MADE IN CONNECTION WITH A GOVERNMENTAL EMPLOYEE BENEFIT PLAN ESTABLISHED OR MAINTAINED FOR EMPLOYEES OF THE GOVERNMENT OF THE STATE OR A POLITICAL SUBDIVISION THEREOF, OR BY ONE OF THEIR COMPONENT AGENCIES OR INSTRUMENTALITIES; AND TO AMEND SECTION 30-5-30, RELATING TO PREREQUISITES TO RECORDING, SO AS TO SPECIFY CERTAIN METHODS OF PROOF OR ACKNOWLEDGMENT NECESSARY FOR RECORDING DEEDS OR OTHER WRITTEN INSTRUMENTS.

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

Definition of governing instrument

SECTION    1.    Section 62-2-507(a)(4) of the 1976 Code is amended to read:

"(4)    'Governing instrument' means an instrument executed by the divorced individual before the divorce or annulment of the individual's marriage to the individual's former spouse including, but not limited to wills, revocable inter vivos trusts, powers of attorney, life insurance beneficiary designations, annuity beneficiary designations, retirement plan beneficiary designations and transfer on death accounts. 'Governing instrument' does not include a beneficiary designation made in connection with a governmental employee benefit plan established or maintained for employees of the government of the State or a political subdivision thereof, or by an agency or instrumentality of any of the foregoing."

Prerequisites to recording

SECTION    2.    The first undesignated paragraph, before subsection (A), of Section 30-5-30 of the 1976 Code is amended to read:

"Except as otherwise provided by statute, before any deed or other instrument in writing can be recorded in this State, it must be acknowledged or proved by the method described in subsection (A)(1), (A)(2), or (B)."

Time effective

SECTION    3.    This act takes effect upon approval by the Governor.

Ratified the 14th day of May, 2018.

Approved the 18th day of May, 2018.

This web page was last updated on June 22, 2018 at 1:09 PM