Funds held by the trust department shall be invested as soon as practicable in strict accordance with the will or agreement governing the trust and in the absence of such direction shall be invested under the terms of the laws for such investments in this State. The investments shall be made by an investment committee, appointed by the board of directors, and all such investments shall be approved by the board of directors. HISTORY: 1962 Code Section 8-584; 1952 Code Section 8-584; 1942 Code Section 7908; 1932 Code Section 7908; 1930 (36) 1367.
South Carolina Legal Code