Defines "trust business" in South Carolina law as services related to common trust fund investment and management.
This bill amends the South Carolina Code of Laws by adding a definition for "trust business." It specifies that trust business involves services related to the investment in or management of a common trust fund. This definition excludes other fiduciary activities by individuals or organizations, regardless of their corporate form. The act will take effect upon approval by the Governor.
Included in complete analysis
- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
Analyze for Free
See what it does, who it affects, and the critical issues in plain language. Free, 30 seconds.