South Carolina Statutes
§ 34-21-330 — Nature of interest in fund.
South Carolina·Title 34 BANKING, FINANCIAL INSTITUTIONS AND MONEY·Ch. 21 BANKS AND CORPORATIONS DOING TRUST BUSINESS
No fiduciary account owning or holding an investment or participation in a common trust fund, or any certificate of participation therein, shall be deemed to have individual ownership of any asset in such common trust fund, but shall be deemed to have only a proportionate undivided interest in the common trust fund.
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South Carolina § 34-21-330 (Nature of interest in fund.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
HISTORY: 1962 Code SECTION 8-597; 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.