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2017 South Carolina Code of Laws
Title 34 - Banking, Financial Institutions and Money
CHAPTER 15 - BANK ACTING AS FIDUCIARY
Section 34-15-50. Liability when acting as trustee of partnership interest for minors.
Universal Citation: SC Code § 34-15-50 (2017)
Any banking corporation or trust company authorized under this chapter to act as a fiduciary which acts or is acting as trustee of a partnership interest for minor beneficiaries shall not be liable as a partner except to the extent of the assets in the trust, the provisions of Sections 33-41-350 to 33-41-390 to the contrary notwithstanding; provided, however, nothing in this section shall waive, limit or restrict the duty and liability otherwise of the bank as trustee of a partner's interest.
HISTORY: 1962 Code Section 8-245; 1955 (49) 321.
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