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2017 South Carolina Code of Laws
Title 34 - Banking, Financial Institutions and Money
CHAPTER 21 - BANKS AND CORPORATIONS DOING TRUST BUSINESS
Section 34-21-280. Collective investment fund may be considered as a whole in determining propriety of investment.
Universal Citation: SC Code § 34-21-280 (2017)
In order to determine whether the investment of funds received or held by the trust institution as fiduciary in a participation in a collective investment fund is proper, the trust institution may consider the collective investment fund as a whole and shall not, for example, be prohibited from making such investment because any particular asset is nonincome producing.
HISTORY: 1962 Code Section 8-592.2; 1965 (54) 608.
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