South Carolina Code 43-5-200. Endorsement when recipient dies after issuance of check
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Terms Used In South Carolina Code 43-5-200
- Recourse: An arrangement in which a bank retains, in form or in substance, any credit risk directly or indirectly associated with an asset it has sold (in accordance with generally accepted accounting principles) that exceeds a pro rata share of the bank's claim on the asset. If a bank has no claim on an asset it has sold, then the retention of any credit risk is recourse. Source: FDIC
When a recipient dies after issuance but before delivery or negotiation of his assistance check for the month in which his death occurs, endorsement of such check without recourse by the county director of social services to the "spouse or nearest living relative" of the recipient shall be sufficient authority to the drawee bank to pay such check.