Banks, trust companies, or corporations acting in a fiduciary capacity shall segregate all assets held in any fiduciary capacity from the general assets of the bank, trust company, or corporation and shall keep a separate set of books or records showing in proper detail all transactions relative to this fiduciary business, and these books and records must be under the management of an officer whose duty must be prescribed by the board of directors. HISTORY: 1962 Code Section 8-582; 1952 Code Section 8-582; 1942 Code Section 7906; 1932 Code Section 7606; 1930 (36) 1367; 1985 Act No. 124, Section 6.
South Carolina Legal Code