South Carolina Code 62-6-201. Ownership during lifetime
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(A) During the lifetime of all parties, an account belongs to the parties in proportion to the net contribution of each to the sums on deposit, unless there is clear and convincing evidence of a different intent.
(B) A beneficiary in an account having a POD designation has no right to sums on deposit during the lifetime of any party.
Terms Used In South Carolina Code 62-6-201
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
(C) An agent in an account with an agency designation has no beneficial right to sums on deposit.