South Carolina Statutes
§ 62-7-1003 — Damages in absence of breach.
(a)A trustee is accountable to an affected beneficiary for any profit made by the trustee arising from the administration of the trust, even absent a breach of trust.
(b)Absent a breach of trust, a trustee is not liable to a beneficiary for a loss or depreciation in the value of trust property or for not having made a profit.
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South Carolina § 62-7-1003 (Damages in absence of breach.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
HISTORY: 2005 Act No. 66, SECTION 1; 2013 Act No. 100, SECTION 2, eff January 1, 2014.
Nearby Sections
15
§ 62-1-100
Effective date.§ 62-1-101
Short title.§ 62-1-102
Purposes; rules of construction.§ 62-1-104
Severability.§ 62-1-105
Construction against implied repeal.§ 62-1-106
Effect of fraud and evasion.§ 62-1-107
Evidence as to death or status.§ 62-1-108
Acts by holder of general power.§ 62-1-111
Authority to award costs and expenses.§ 62-1-112
Inherent power of court.§ 62-1-201
General definitions.§ 62-1-301
Territorial application.