South Carolina § 34-15-50 Liability when acting as trustee of partnership interest for minors.

South Carolina Statutes

§ 34-15-50 — Liability when acting as trustee of partnership interest for minors.

South Carolina § 34-15-50

Title 34BANKING, FINANCIAL INSTITUTIONS AND MONEY

Ch. 15BANK ACTING AS FIDUCIARY

This text of South Carolina § 34-15-50 (Liability when acting as trustee of partnership interest for minors.) is published on Counsel Stack Legal Research, covering South Carolina primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

S.C. Code Ann. § 34-15-50 (2026).

Text

Any banking corporation or trust company authorized under this chapter to act as a fiduciary which acts or is acting as trustee of a partnership interest for minor beneficiaries shall not be liable as a partner except to the extent of the assets in the trust, the provisions of Sections 33-41-350 to 33-41-390 to the contrary notwithstanding; provided, however, nothing in this section shall waive, limit or restrict the duty and liability otherwise of the bank as trustee of a partner's interest.

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Any banking corporation or trust company authorized under this chapter to act as a fiduciary which acts or is acting as trustee of a partnership interest for minor beneficiaries shall not be liable as a partner except to the extent of the assets in the trust, the provisions of Sections 33-41-350 to 33-41-390 to the contrary notwithstanding; provided, however, nothing in this section shall waive, limit or restrict the duty and liability otherwise of the bank as trustee of a partner's interest.