Current Status Bill Number:3244 Type of Legislation:General Bill GB Introducing Body:House Introduced Date:19950112 Primary Sponsor:McElveen All Sponsors:McElveen Drafted Document Number:council\legis\bills\bbm\9736jm.95 Residing Body:House Current Committee:Judiciary Committee 25 HJ Subject:Premarital Agreements
Body Date Action Description Com Leg Involved
______ ________ _______________________________________ _______ ____________
House 19950112 Introduced, read first time, 25 HJ
referred to Committee
View additional legislative information at the LPITS web site.
TO AMEND TITLE 20, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO DOMESTIC RELATIONS, BY ADDING CHAPTER 6 SO AS TO ENACT THE "UNIFORM PREMARITAL AGREEMENT ACT".
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. The 1976 Code is amended by adding to Title 20:
Section 20-6-10. This chapter may be cited as the `Uniform Premarital Agreement Act'.
Section 20-6-20. As used in this chapter:
(1) `Premarital agreement' means an agreement between prospective spouses made in contemplation of marriage and to be effective upon marriage.
(2) `Property' means an interest, present or future, legal or equitable, vested or contingent, in real or personal property, including income and earnings.
(3) `Unconscionable premarital agreement' means an agreement, either due to a lack of property or unemployability:
(a) which would render a spouse without a means of reasonable support;
(b) which would make a spouse a public charge; or
(c) which would provide a standard of living far below that which was enjoyed before the marriage.
Section 20-6-30. A premarital agreement must be in writing, with a statement of assets and income of each party annexed to it, signed by both parties, and it is enforceable without consideration.
Section 20-6-40. Parties to a premarital agreement may contract with respect to:
(1) the rights and obligations of each of the parties in any of the property of either or both of them whenever and wherever acquired or located.
(2) the right to buy, sell, use, transfer, exchange, abandon, lease, consume, expend, assign, create a security interest in, mortgage, encumber, dispose of, or otherwise manage and control property.
(3) the disposition of property upon separation, divorce, death, or the occurrence or nonoccurrence of any other event.
(4) the entitlement to or amount of spousal support.
(5) the making of a will, trust, or other arrangement to carry out the provisions of the agreement.
(6) the ownership rights in and disposition of the death benefit from a life insurance policy.
(7) the choice of law governing the construction of the agreement.
(8) any other matter, including their personal rights and obligations, not in violation of public policy.
Section 20-6-50. A premarital agreement may not adversely affect the right of a child to support.
Section 20-6-60. A premarital agreement becomes effective upon marriage of the parties.
Section 20-6-70. After marriage of the parties, a premarital agreement may be amended or revoked only by a written agreement signed by the parties, and the amended agreement or revocation is enforceable without consideration.
Section 20-6-80. The burden of proof to set aside a premarital agreement is upon the party alleging the agreement to be unenforceable. A premarital agreement is not enforceable if the party seeking to set aside the agreement proves, by clear and convincing evidence, that:
(1) the party executed the agreement involuntarily; or
(2) the agreement was unconscionable at the time enforcement was sought; or
(3) that party, before execution of the agreement:
(a) was not provided full and fair disclosure of the earnings, property, and financial obligations of the other party;
(b) did not voluntarily and expressly waive, in writing, a right to disclosure of the property or financial obligations of the other party beyond the disclosure provided;
(c) did not have, or reasonably could not have had, an adequate knowledge of the property or financial obligations of the other party; or
(d) did not consult with independent legal counsel or did not voluntarily and expressly waive, in writing, the opportunity to consult with independent legal counsel.
(4) The issue of unconscionability of a premarital agreement must be determined by the court as a matter of law.
Section 20-6-90. If a marriage is determined to be void, an agreement that would otherwise have been a premarital agreement is enforceable only to the extent necessary to avoid an inequitable result.
Section 20-6-100. This chapter must be construed to effectuate its general purpose to make uniform the law with respect to the subject of the chapter among states enacting the `Uniform Premarital Agreement Act'.
Section 20-6-110. This chapter applies to premarital agreements executed on and after the effective date of this chapter."
SECTION 2. This act takes effect upon approval by the Governor.