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2021 South Carolina Code of Laws
Title 34 - Banking, Financial Institutions and Money
Chapter 30 - A State Savings Bank Charter In South Carolina
Section 34-30-1030. Fiduciary duties of officers and directors; duties of good faith, diligence, and care.
Universal Citation: SC Code § 34-30-1030 (2021)
Officers and directors of a state savings bank shall act in a fiduciary capacity towards the state savings bank and its members or stockholders. They shall discharge duties of their respective positions in good faith, and with that diligence and care which ordinarily prudent persons would exercise under similar circumstances in like positions.
HISTORY: 1997 Act No. 90, Section 1, eff June 10, 1997.
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