South Carolina General Assembly
108th Session, 1989-1990

Bill 1170

                    Current Status

Bill Number:               1170
Ratification Number:       384
Act Number                 348
Introducing Body:          Senate
Subject:                   Definition of "annuity
                           revised"
View additional legislative information at the LPITS web site.

(Text matches printed bills. Document has been reformatted to meet World Wide Web specifications.)

(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.