Any director, officer, employee, or partner of a health maintenance organization who receives, collects, disburses, or invests funds in connection with the activities of an organization is responsible for the funds in a fiduciary relationship to the organization.
S.C. Code Ann. § 38-33-70
Fiduciary relationship in handling of funds
Known as the Health Maintenance Organization Act
The act spans §§ 38–38 (32 sections).
Former 1976 Code SECTION 38-25-70 [1984 Act No. 512, Part II, SECTION 32] recodified as SECTION 38-33-70 by 1987 Act No. 155, SECTION 1; 1987 Act No. 83, SECTION 1 (amendment to…
Official source: South Carolina Legislature. Reproduced from public-domain South Carolina statutes; confirm against the official source for the current text. Not legal advice.