South Carolina § 62-6-307 - Set-off.
Full text of South Carolina South Carolina Code of Laws § 62-6-307 — Set-off., with citation guidance and answers to common questions.
§ 62-6-307. Set-off.
Without qualifying any other statutory right to set-off or lien and subject to any contractual provision, if a party to a multiple-party account is indebted to a financial institution, the financial institution has a right to set-off against the account in which the party has or had immediately before his death a present right of withdrawal. The amount of the account subject to set-off is that proportion to which the debtor is, or was immediately before his death, beneficially entitled, and in the absence of proof of net contributions, to an equal share with all parties having present rights of withdrawal.
HISTORY: 1986 Act No. 539, SECTION 1; 1976 Code SECTION 62-6-113; 2013 Act No. 100, SECTION 2, eff January 1, 2014.
Part 4
Titled Personal Property
Frequently Asked Questions About South Carolina § 62-6-307
What does South Carolina Code of Laws § 62-6-307 cover?
Section 62-6-307 ("Set-off.") is part of the South Carolina Code of Laws, the codified statutory law of South Carolina. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite South Carolina § 62-6-307?
A common citation format is "South Carolina Code of Laws § 62-6-307" (South Carolina). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of South Carolina law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the South Carolina official source linked on this page or consult a licensed South Carolina attorney.
How does South Carolina § 62-6-307 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in South Carolina can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in South Carolina.