South Carolina § 34-21-30 Fiduciary assets must be segregated; separate books and records; officer in charge.

South Carolina Statutes

§ 34-21-30 — Fiduciary assets must be segregated; separate books and records; officer in charge.

South Carolina § 34-21-30

Title 34BANKING, FINANCIAL INSTITUTIONS AND MONEY

Ch. 21BANKS AND CORPORATIONS DOING TRUST BUSINESS

This text of South Carolina § 34-21-30 (Fiduciary assets must be segregated; separate books and records; officer in charge.) 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. § 34-21-30 (2026).

Text

Banks, trust companies, or corporations acting in a fiduciary capacity shall segregate all assets held in any fiduciary capacity from the general assets of the bank, trust company, or corporation and shall keep a separate set of books or records showing in proper detail all transactions relative to this fiduciary business, and these books and records must be under the management of an officer whose duty must be prescribed by the board of directors.

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Banks, trust companies, or corporations acting in a fiduciary capacity shall segregate all assets held in any fiduciary capacity from the general assets of the bank, trust company, or corporation and shall keep a separate set of books or records showing in proper detail all transactions relative to this fiduciary business, and these books and records must be under the management of an officer whose duty must be prescribed by the board of directors.

Legislative History

HISTORY: 1962 Code SECTION 8-582; 1952 Code SECTION 8-582; 1942 Code SECTION 7906; 1932 Code SECTION 7606; 1930 (36) 1367; 1985 Act No. 124, SECTION 6.