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Section 62-7-101. Short title. - This article may be cited as the South Carolina Trust...
Section 62-7-102. Scope. - This article applies to express trusts, charitable or noncharitable, and...
Section 62-7-103. Definitions. - In this article: (1) "Action," with respect to an act...
Section 62-7-104. Knowledge. - (a) Subject to subsection (b), a person has knowledge of...
Section 62-7-105. Default and mandatory rules. - (a) Except as otherwise provided in the terms of the...
Section 62-7-106. Common law of trusts; principles of equity. - The common law of trusts and principles of equity supplement...
Section 62-7-107. Governing law. - The meaning and effect of the terms of a trust...
Section 62-7-108. Principal place of administration. - (a) Unless otherwise designated by the terms of a trust,...
Section 62-7-109. Methods and waiver of notice. - (a) Notice to a person under this article or the...
Section 62-7-110. Requirement of notice to others. - (a) Whenever notice to qualified beneficiaries of a trust is...
Section 62-7-111. Nonjudicial settlement agreements. - (a) For purposes of this section, "interested persons" means persons...
Section 62-7-112. Rules of construction. - The rules of construction that apply in this State to...
Section 62-7-201. Role of court in administration of trust. - (a) Subject to the provisions of Section 62-1-302(d), the probate...
Section 62-7-202. Jurisdiction over trustee and beneficiary. - (a) By accepting the trusteeship of a trust having its...
Section 62-7-204. Venue. - (a) Except as otherwise provided in subsection (b), venue for...
Section 62-7-301. When parties bound by others. - (a) For purposes of this part, "beneficiary representative" refers to...
Section 62-7-302. Representation by holder of general testamentary power of appointment. - To the extent there is no conflict of interest between...
Section 62-7-303. Representation by fiduciaries and parents. - (a) To the extent there is no conflict of interest...
Section 62-7-304. Representation by person having substantially identical interest. - Unless otherwise represented, a minor, incapacitated, or unborn individual, or...
Section 62-7-305. Appointment of representative. - At any point in a judicial proceeding, a court may...
Section 62-7-401. Methods of creating trust. - (a)(1) A trust described in Section 62-7-102 may be created...
Section 62-7-402. Requirements for creation; merger of title. - (a) A trust is created only if: (1) the settlor...
Section 62-7-403. Trusts created in other jurisdictions. - A trust not created by will is validly created if...
Section 62-7-404. Trust purposes. - A trust may be created only to the extent its...
Section 62-7-405. Charitable purposes; enforcement. - (a) A charitable trust may be created for the relief...
Section 62-7-406. Creation of trust induced by fraud, duress, or undue influence. - A trust is voidable to the extent its creation was...
Section 62-7-407. Evidence of oral trust. - Except as otherwise required by statute, a trust need not...
Section 62-7-408. Trust for care of animal. - (a) A trust may be created to provide for the...
Section 62-7-409. Noncharitable trust without ascertainable beneficiary. - Except as otherwise provided in this section or by another...
Section 62-7-410. Modification or termination of trust; proceedings for approval or disapproval. - (a) In addition to the methods of termination prescribed by...
Section 62-7-411. Modification or termination of noncharitable irrevocable trust by consent with court approval. - (a) A noncharitable irrevocable trust may be modified or terminated...
Section 62-7-412. Modification or termination because of unanticipated circumstances or inability to administer trust effectively. - (a) The court may modify the administrative or dispositive terms...
Section 62-7-413. Equitable deviation. - (a) Except as otherwise provided in subsection (b), if a...
Section 62-7-414. Modification or termination of uneconomic trust. - (a) After notice to the qualified beneficiaries, and without court...
Section 62-7-415. Reformation to correct mistakes. - The court may reform the terms of a trust, even...
Section 62-7-416. Modification to achieve settlor's tax objectives. - To achieve the settlor's tax objectives, the court may modify...
Section 62-7-417. Combination and division of trusts. - After notice to the qualified beneficiaries, a trustee may combine...
Section 62-7-418. Estate and possession of trust estates shall be in beneficiaries. - (a) When any person shall be seized of any lands,...
Section 62-7-501. Rights of beneficiary's creditor or assignee. - (a) Except as provided in subsection (b), the court may...
Section 62-7-502. Spendthrift provision. - (a) A spendthrift provision is valid only if it restrains...
Section 62-7-503. Exceptions to spendthrift provision. - (a) In this section, "child" includes any person for whom...
Section 62-7-504. Discretionary trusts; effect of standard. - (a) In this section, "child" includes any person for whom...
Section 62-7-505. Creditors' claims against settlor. - (a) Whether or not the terms of a trust contain...
Section 62-7-506. Overdue distribution. - Whether or not a trust contains a spendthrift provision, a...
Section 62-7-507. Personal obligations of trustee. - Trust property is not subject to personal obligations of the...
Section 62-7-601. Capacity of settlor of revocable trust. - The capacity required to create, amend, revoke, or add property...
Section 62-7-602. Revocation or amendment of revocable trust. - (a) Unless the terms of a trust expressly provide that...
Section 62-7-602A. Powers of agent acting pursuant to power of attorney. - (a) An agent acting pursuant to a power of attorney...
Section 62-7-603. Settlor's powers. - While a trust is revocable, rights of the beneficiaries are...
Section 62-7-604. Limitation on action contesting validity of revocable trust; distribution of trust property. - (a) A person must commence a judicial proceeding to contest...
Section 62-7-605. Effect of penalty clause for contest. - A provision in a revocable trust purporting to penalize any...
Section 62-7-606. Anti-lapse provision in trust. - (A) Unless the trust expressly provides otherwise, if the beneficiary...
Section 62-7-607. Divorce or annulment as revoking revocable trust. - If after executing a revocable trust the settlor is divorced...
Section 62-7-701. Accepting or declining trusteeship. - (a) Except as otherwise provided in subsection (c), a person...
Section 62-7-702. Trustee's bond. - (a) A trustee shall provide bond to secure the performance...
Section 62-7-703. Cotrustees. - (a) Cotrustees who are unable to reach a unanimous decision...
Section 62-7-704. Vacancy in trusteeship; appointment of successor. - (a) A vacancy in a trusteeship occurs if: (1) a...
Section 62-7-705. Resignation of trustee. - (a) A trustee may resign: (1) upon at least 30...
Section 62-7-706. Removal of trustee. - (a) For the reasons set forth in subsection (b), the...
Section 62-7-707. Delivery of property by former trustee. - (a) Unless a cotrustee remains in office or the court...
Section 62-7-708. Compensation of trustee. - (a) If the terms of a trust do not specify...
Section 62-7-709. Reimbursement of expenses. - (a) A trustee is entitled to be reimbursed out of...
Section 62-7-801. Duty to administer trust. - Upon acceptance of a trusteeship, the trustee shall administer the...
Section 62-7-802. Duty of loyalty. - (a) A trustee shall administer the trust solely in the...
Section 62-7-803. Impartiality. - If a trust has two or more beneficiaries, the trustee...
Section 62-7-804. Prudent administration. - A trustee shall administer the trust as a prudent person...
Section 62-7-805. Costs of administration. - In administering a trust, the trustee may incur only costs...
Section 62-7-806. Trustee's skills. - A trustee who has special skills or expertise, or is...
Section 62-7-807. Delegation by trustee. - (a) A trustee may delegate duties and powers that a...
Section 62-7-808. Powers to direct. - (a) While a trust is revocable, the trustee may follow...
Section 62-7-809. Control and protection of trust property. - A trustee shall take reasonable steps to take control of...
Section 62-7-810. Recordkeeping and identification of trust property. - (a) A trustee shall keep adequate records of the administration...
Section 62-7-811. Enforcement and defense of claims. - A trustee shall take reasonable steps to enforce claims of...
Section 62-7-812. Exercise of powers by successor trustees; liability. - Unless directed otherwise by the court or by the trust...
Section 62-7-813. Duty to inform and report. - (a) Unless the terms of a trust expressly provide otherwise,...
Section 62-7-814. Discretionary powers; tax savings. - (a) Notwithstanding the breadth of discretion granted to a trustee...
Section 62-7-815. General powers of trustee. - (a) A trustee, without authorization by the court, may exercise:...
Section 62-7-816. Specific powers of trustee. - Without limiting the authority conferred by Section 62-7-815, a trustee...
Section 62-7-816A. Authority to appoint the property of original trust to second trust. - (a) Unless the terms of the instrument expressly provide otherwise,...
Section 62-7-817. Distribution upon termination. - (a) Upon termination or partial termination of a trust, the...
Section 62-7-818. Powers and discretions of a trust protector. - The powers and discretions of a trust protector are as...
Section 62-7-819. Powers of a trust investment advisor. - (a) Whenever a trust instrument provides that a trustee is...
Section 62-7-901. Short title. - This part may be cited as the South Carolina Uniform...
Section 62-7-902. Definitions. - As used in the South Carolina Uniform Principal and Income...
Section 62-7-903. Allocation of receipts and disbursements. - (A) In allocating receipts and disbursements to or between principal...
Section 62-7-904. Adjustments between principal and income. - (A) A trustee may adjust between principal and income to...
Section 62-7-904A. Judicial control of discretionary power. - (A) A court may not change a fiduciary's decision, or...
Section 62-7-904B. Definitions for Sections 62-7-904C through 62-7-904P. - The definitions in this section apply to Sections 62-7-904C through...
Section 62-7-904C. Trustee's power to convert an income trust to a total return unitrust, reconvert a total return unitrust to an income trust, or change the percentage used to calculate the unitrust amount. - (A) A trustee, other than an interested trustee, or, where...
Section 62-7-904D. Petition by trustee or qualified beneficiary to convert an income trust, reconvert a total return unitrust, or change the percentage used to calculate the unitrust amount. - (A) If a trustee desires to: (1) convert an income...
Section 62-7-904E. Fair market value of trust assets. - (A) The fair market value of the trust assets must...
Section 62-7-904F. Administration of a total return unitrust. - In administering a total return unitrust, the trustee may, in...
Section 62-7-904G. Distribution of unitrust amount considered distribution of income and not of principal. - Conversion to a total return unitrust under Sections 62-7-904B through...
Section 62-7-904H. Limitation of liability. - No trustee or disinterested person who in good faith takes...
Section 62-7-904I. Applicability of Sections 62-7-904B through 62-7-904P. - Sections 62-7-904B through 62-7-904P apply to all trusts in existence...
Section 62-7-904M. Unitrust amount to be distributed by the express total return unitrust. - (A) The unitrust amount to be distributed by the express...
Section 62-7-904N. Distribution from an express total return unitrust. - The distribution from an express total return unitrust of a...
Section 62-7-904O. Express total return unitrust governing instrument; changing the unitrust percentage; converting from a unitrust to an income trust; reconversion of an income trust to a unitrust. - (A) The terms of an express total return unitrust governing...
Section 62-7-904P. Trustee considerations for unitrust amount paid. - Unless the terms of the express total return unitrust governing...
Section 62-7-905. Determinations of income and principal; distributions upon death or end of an income interest in a trust. - After a decedent dies, in the case of an estate,...
Section 62-7-906. Determination and distribution of net income. - (A) Each beneficiary described in Section 62-7-905(4) is entitled to...
Section 62-7-907. Beginning and end of income interests. - (A) An income beneficiary is entitled to net income from...
Section 62-7-908. Allocation of income receipts and disbursements. - (A) A trustee shall allocate an income receipt or disbursement,...
Section 62-7-909. Undistributed income. - (A) In this section, "undistributed income" means net income received...
Section 62-7-910. Allocation of receipts from an entity to principal or income. - (A) In this section, "entity" means a corporation, partnership, limited...
Section 62-7-911. Allocations of income and principal received from a trust or an estate. - A trustee shall allocate to income an amount received as...
Section 62-7-912. Separate accounting for a business activity. - (A) If a trustee who conducts a business or other...
Section 62-7-913. Allocations to principal. - A trustee shall allocate to principal: (1) to the extent...
Section 62-7-914. Accounting for receipts from rental property. - To the extent that a trustee accounts for receipts from...
Section 62-7-915. Allocation of interest as income and proceeds from disposition of an obligation as principal; exceptions. - (A) An amount received as interest, whether determined at a...
Section 62-7-916. Allocation of proceeds of insurance contracts; exception. - (A) Except as otherwise provided in subsection (B), a trustee...
Section 62-7-917. Insubstantial allocations. - If a trustee determines that an allocation between principal and...
Section 62-7-918. Allocation of payments; interest, dividends, or payments. - (A) In this section: (1) "Payment" means a payment that...
Section 62-7-919. Liquidating assets. - (A) In this section, "liquidating asset" means an asset whose...
Section 62-7-920. Allocation of receipts from interests in minerals or other natural resources. - (A) To the extent that a trustee accounts for receipts...
Section 62-7-921. Allocation of receipts from sale of timber and related products. - (A) To the extent that a trustee accounts for receipts...
Section 62-7-922. Marital deduction adjustments. - (A) If a marital deduction is allowed for all or...
Section 62-7-923. Allocation of derivatives; options. - (A) In this section, "derivative" means a contract or financial...
Section 62-7-924. Allocation of payments related to asset-backed securities. - (A) In this section, "asset-backed security" means an asset whose...
Section 62-7-925. Disbursements from income. - A trustee shall make the following disbursements from income to...
Section 62-7-926. Disbursements from principal. - (A) A trustee shall make the following disbursements from principal:...
Section 62-7-927. Transfer to principal of cash receipts from asset subject to depreciation. - (A) In this section, "depreciation" means a reduction in value...
Section 62-7-928. Future principal disbursements reserves. - (A) If a trustee makes or expects to make a...
Section 62-7-929. Payment of taxes from income and principal. - (A) A tax required to be paid by a trustee...
Section 62-7-930. Certain adjustments between principal and income; reduction of marital deduction or charitable contribution deduction. - (A) A fiduciary may make adjustments between principal and income...
Section 62-7-931. Application and construction of Uniform Principal and Income Act. - In applying and construing this Uniform Act, consideration must be...
Section 62-7-933. Uniform Prudent Investor Act. - (A) This section may be cited as the South Carolina...
Section 62-7-1001. Remedies for breach of trust. - (a) A violation by a trustee of a duty the...
Section 62-7-1002. Damages for breach of trust. - (a) A trustee who commits a breach of trust is...
Section 62-7-1003. Damages in absence of breach. - (a) A trustee is accountable to an affected beneficiary for...
Section 62-7-1004. Attorney's fees and costs. - In a judicial proceeding involving the administration of a trust,...
Section 62-7-1005. Limitation of action against trustee. - (a) Unless previously barred by adjudication, consent, or limitation, a...
Section 62-7-1005A. Trust protector. - (A) If a trust instrument provides that a trustee is...
Section 62-7-1005B. Trust investment advisor. - (A) If a trust instrument provides that a trustee is...
Section 62-7-1006. Reliance on trust instrument. - A trustee who acts in reasonable reliance on the terms...
Section 62-7-1007. Event affecting administration or distribution. - If the happening of an event, including marriage, divorce, performance...
Section 62-7-1008. Exculpation of trustee. - A term of a trust relieving a trustee of liability...
Section 62-7-1009. Beneficiary's consent, release, or ratification. - (a) A trustee is not liable to a beneficiary for...
Section 62-7-1010. Limitation on personal liability of trustee. - (a) Except as otherwise provided in the contract, a trustee...
Section 62-7-1011. Interest as general partner. - (a) Except as otherwise provided in subsection (c) or unless...
Section 62-7-1012. Protection of person dealing with trustee. - (a) A person other than a beneficiary who in good...
Section 62-7-1013. Certification of trust. - (a) Instead of furnishing a copy of the trust instrument...
Section 62-7-1101. Uniformity of application and construction. - In applying and construing this article, consideration must be given...
Section 62-7-1102. Electronic records and signatures. - The provisions of this article governing the legal effect, validity,...
Section 62-7-1103. Severability clause. - If any provision of this article or its application to...
Section 62-7-1106. Application to existing relationships. - (a) Except as otherwise provided in this article, on the...