S.C. Code § 62-7-506

Current through 2024 Act No. 225.
Section 62-7-506 - Overdue distribution

Whether or not a trust contains a spendthrift provision, a creditor or assignee of a beneficiary may reach a mandatory distribution of income or principal, including a distribution upon termination of the trust, if the trustee has not made the distribution to the beneficiary within a reasonable time after the designated distribution date. For purposes of this section, a mandatory distribution is a distribution where the trustee has no discretion in determining whether the distribution shall be made or the amount or timing of such distribution.

S.C. Code § 62-7-506

Amended by 2013 S.C. Acts, Act No. 100 (SB 143), s 2, eff. 1/1/2014.
2005 Act No. 66, Section 1.