S 1098 Session 107 (1987-1988)
S 1098 General Bill, By Senate Banking and Insurance
Similar(S 977)
A Bill to amend Section 38-69-120, Code of Laws of South Carolina, 1976,
relating to the incontestability of annuity contracts and the exceptions
thereto, so as to provide for the required contents of certain annuities and
endowment contracts, to amend Article 1, Chapter 69, Title 38, relating to
annuities by adding Section 38-69-30 so as to provide that when the proceeds
of an annuity becoming a claim by the death of the insured are left with an
insurance company under a trust or other agreement, the benefits accruing
thereunder after the death of the insured are not transferable nor subject to
computation or incumbrance nor to legal process, except in an action to
recover for necessaries if the parties to the trust or other agreement so
agree, and to repeal Section 38-69-130 relating to limitations on proceedings
to contest certain annuity contracts.
01/26/88 Senate Introduced, read first time, placed on calendar
without reference SJ-16
01/28/88 Senate Read second time SJ-35
01/28/88 Senate Ordered to third reading with notice of
amendments SJ-35
02/02/88 Senate Read third time and sent to House SJ-19
02/03/88 House Introduced and read first time HJ-908
02/03/88 House Referred to Committee on Labor, Commerce and
Industry HJ-909
02/16/88 House Tabled in committee
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