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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 34-21-410. Mistakes in administration.
Universal Citation: SC Code § 34-21-410 (2017)
No mistake made in good faith and in the exercise of due care in connection with the administration of a common trust fund shall be deemed to be a violation of this article or of any rules or regulations issued pursuant thereto if promptly after discovery of the mistake the trust institution takes whatever action may be practical in the circumstances to remedy the mistake.
HISTORY: 1962 Code Section 8-599.6; 1955 (49) 538.
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