South Carolina § 21-29-90 - Affiliated trust company defined.
Full text of South Carolina South Carolina Code of Laws § 21-29-90 — Affiliated trust company defined., with citation guidance and answers to common questions.
§ 21-29-90. Affiliated trust company defined.
(A) For the purposes of this section, an "affiliated trust company" is a trust company that is owned by the bank which has designated it as an agent or is owned, directly or indirectly, by the same bank holding company that owns, directly or indirectly, the bank which has designated it as an agent.
(B) Any bank is authorized to designate an affiliated trust company as its agent for the performance of all acts, obligations, and responsibilities of the bank with respect to any fiduciary or other services generally rendered by bank trust departments. In that event, the bank remains fully responsible and liable with respect to all actions of the affiliated trust company as if performed by the bank itself. No such agency relationship:
(1) may be considered an impermissible delegation of responsibility or duty by the bank; or
(2) constitutes a resignation or disqualification of the bank as fiduciary or a relinquishment of trust powers by the bank.
HISTORY: 1987 Act No. 106, SECTION 1.
Source: official South Carolina text · Last verified 2026-08-27
Frequently Asked Questions About South Carolina § 21-29-90
What does South Carolina Code of Laws § 21-29-90 cover?
Section 21-29-90 ("Affiliated trust company defined.") is part of the South Carolina Code of Laws, the codified statutory law of South Carolina. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite South Carolina § 21-29-90?
A common citation format is "South Carolina Code of Laws § 21-29-90" (South Carolina). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of South Carolina law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the South Carolina official source linked on this page or consult a licensed South Carolina attorney.
How does South Carolina § 21-29-90 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in South Carolina can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in South Carolina.