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.
Structure South Carolina Code of Laws
Title 34 - Banking, Financial Institutions and Money
Chapter 21 - Banks And Corporations Doing Trust Business
Section 34-21-20. Examination; rules and regulations.
Section 34-21-40. Forms of security for funds received or held in trust.
Section 34-21-50. Investment of funds.
Section 34-21-60. Investments shall be kept separate.
Section 34-21-70. Custody of securities.
Section 34-21-210. Definitions.
Section 34-21-220. Collective investment of funds.
Section 34-21-230. Written plan for fund.
Section 34-21-240. Amendments to plan.
Section 34-21-250. Management, control, and ownership of fund.
Section 34-21-260. Propriety of investments in fund.
Section 34-21-270. Limitation on investment in obligations of any one person, firm, or corporation.
Section 34-21-290. Authority of estates restricted to legal investments.
Section 34-21-300. Authority of estates not restricted to legal investments.
Section 34-21-310. Limitation on interest of any one participant in collective investment fund.
Section 34-21-320. Making and withdrawing investments.
Section 34-21-330. Nature of interest in fund.
Section 34-21-340. Certificates and other documents evidencing interest in fund shall not be issued.
Section 34-21-350. Records of investments.
Section 34-21-360. Trust institution shall not invest in own fund.
Section 34-21-370. Management fees prohibited; reimbursement for expenses.
Section 34-21-380. Annual audit of fund; financial report.
Section 34-21-390. Valuation of securities in fund.
Section 34-21-400. Court accounting of fund.
Section 34-21-410. Mistakes in administration.
Section 34-21-420. Other common trust funds are not prohibited.
Section 34-21-430. Obligations in which funds may be collectively invested.