South Carolina Statutes
§ 34-21-290 — Authority of estates restricted to legal investments.
South Carolina·Title 34 BANKING, FINANCIAL INSTITUTIONS AND MONEY·Ch. 21 BANKS AND CORPORATIONS DOING TRUST BUSINESS
If the instrument under which a trust institution acts as fiduciary, whether such fiduciary capacity arose before or is created after this article takes effect, shall either expressly or by its silence limit or restrict the investment of moneys of the estate and securities to the class authorized by law as legal investments, the trust institution may, in its capacity as sole fiduciary or with the consent of any person acting with it in a fiduciary capacity, invest and reinvest moneys of the estate in any such common trust fund maintained by the trust institution if the securities composing such fund consist solely of securities of the class authorized as legal investments for funds held by a fiduciary.
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South Carolina § 34-21-290 (Authority of estates restricted to legal investments.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
HISTORY: 1962 Code SECTION 8-593; 1955 (49) 538.
Nearby Sections
15
§ 34-21-20
Examination; rules and regulations.§ 34-21-210
Definitions.§ 34-21-220
Collective investment of funds.§ 34-21-230
Written plan for fund.§ 34-21-240
Amendments to plan.§ 34-21-250
Management, control, and ownership of fund.§ 34-21-260
Propriety of investments in fund.§ 34-21-280
Collective investment fund may be considered as a whole in determining propriety of investment.§ 34-21-320
Making and withdrawing investments.