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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 34-21-390. Valuation of securities in fund.
Universal Citation: SC Code § 34-21-390 (2017)
At least once every three months the trust institution administering a common trust fund shall determine the value of the securities in the common trust fund. No participation shall be admitted to or withdrawn from the common trust fund, except on the basis of such valuation and on the date of the determination of such valuation or, if permitted by the plan, within ten business days subsequent to the date of such determination.
HISTORY: 1962 Code Section 8-599.4; 1955 (49) 538; 1978 Act No. 598.
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