Current StatusView additional legislative information at the LPITS web site.Bill Number: 1170 Ratification Number: 384 Act Number 348 Introducing Body: Senate Subject: Definition of "annuity revised"
(A348, R384, S1170)
AN ACT TO AMEND SECTION 38-1-20, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO THE DEFINITIONS PERTAINING TO INSURANCE, SO AS TO REVISE THE DEFINITION OF ANNUITY.
Be it enacted by the General Assembly of the State of South Carolina:
Definition of "annuity revised"
SECTION 1. Section 38-1-20(7) of the 1976 Code is amended to read:
"(7) 'Annuity' means every contract or agreement to make periodic payments, whether in fixed or variable dollar amounts, or both, at specified intervals."
Time effective
SECTION 2. This act takes effect upon approval by the Governor.
Approved the 19th day of March, 1990.