South Carolina § 34-21-270 Limitation on investment in obligations of any one person, firm, or corporation.

South Carolina Statutes

§ 34-21-270 — Limitation on investment in obligations of any one person, firm, or corporation.

South Carolina § 34-21-270

Title 34BANKING, FINANCIAL INSTITUTIONS AND MONEY

Ch. 21BANKS AND CORPORATIONS DOING TRUST BUSINESS

This text of South Carolina § 34-21-270 (Limitation on investment in obligations of any one person, firm, or corporation.) 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. § 34-21-270 (2026).

Text

Except in the case of collective investment funds described in Section 34-21-220(2), no investment for a collective investment fund shall be made in stocks, bonds or other obligations of any one person, firm or corporation if as a result of such investment the total amount invested in stocks, bonds or other obligations issued or guaranteed by such person, firm or corporation would aggregate in excess of ten percent of the then market value of the fund. Provided, that this limitation shall not apply to investments in direct obligations of the United States or other obligations fully guaranteed by the United States as to principal and interest.

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Except in the case of collective investment funds described in Section 34-21-220(2), no investment for a collective investment fund shall be made in stocks, bonds or other obligations of any one person, firm or corporation if as a result of such investment the total amount invested in stocks, bonds or other obligations issued or guaranteed by such person, firm or corporation would aggregate in excess of ten percent of the then market value of the fund. Provided, that this limitation shall not apply to investments in direct obligations of the United States or other obligations fully guaranteed by the United States as to principal and interest.