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.
S.C. Code Ann. § 34-21-280
Collective investment fund may be considered as a whole in determining propriety of investment
1962 Code SECTION 8-592.2; 1965 (54) 608.
Official source: South Carolina Legislature. Reproduced from public-domain South Carolina statutes; confirm against the official source for the current text. Not legal advice.