South Carolina § 34-21-370 - Management fees prohibited; reimbursement for expenses.
Full text of South Carolina South Carolina Code of Laws § 34-21-370 — Management fees prohibited; reimbursement for expenses., with citation guidance and answers to common questions.
§ 34-21-370. Management fees prohibited; reimbursement for expenses.
Trust institutions shall not charge a fee for the management of a common trust fund administered by it or receive, either from the common trust fund or from any fiduciary account the funds of which are invested in participations therein, any additional fees, commissions or compensation of any kind by reason of such participation, but a trust institution shall not be prohibited from reimbursing itself out of a common trust fund for such reasonable expenses incurred by it in the administration thereof as would have been chargeable to the respective participating fiduciary accounts if incurred in the separate administration of such participating fiduciary accounts.
HISTORY: 1962 Code SECTION 8-599.2; 1955 (49) 538.
Source: official South Carolina text · Last verified 2026-08-27
Frequently Asked Questions About South Carolina § 34-21-370
What does South Carolina Code of Laws § 34-21-370 cover?
Section 34-21-370 ("Management fees prohibited; reimbursement for expenses.") 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 § 34-21-370?
A common citation format is "South Carolina Code of Laws § 34-21-370" (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 § 34-21-370 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.