South Carolina Statutes
§ 34-21-410 — Mistakes in administration.
South Carolina·Title 34 BANKING, FINANCIAL INSTITUTIONS AND MONEY·Ch. 21 BANKS AND CORPORATIONS DOING TRUST BUSINESS
No mistake made in good faith and in the exercise of due care in connection with the administration of a common trust fund shall be deemed to be a violation of this article or of any rules or regulations issued pursuant thereto if promptly after discovery of the mistake the trust institution takes whatever action may be practical in the circumstances to remedy the mistake.
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South Carolina § 34-21-410 (Mistakes in administration.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
HISTORY: 1962 Code SECTION 8-599.6; 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.