South Carolina Statutes
§ 34-21-50 — Investment of funds.
South Carolina·Title 34 BANKING, FINANCIAL INSTITUTIONS AND MONEY·Ch. 21 BANKS AND CORPORATIONS DOING TRUST BUSINESS
Funds held by the trust department shall be invested as soon as practicable in strict accordance with the will or agreement governing the trust and in the absence of such direction shall be invested under the terms of the laws for such investments in this State. The investments shall be made by an investment committee, appointed by the board of directors, and all such investments shall be approved by the board of directors.
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South Carolina § 34-21-50 (Investment of funds.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
HISTORY: 1962 Code SECTION 8-584; 1952 Code SECTION 8-584; 1942 Code SECTION 7908; 1932 Code SECTION 7908; 1930 (36) 1367.
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.