South Carolina § 9-16-40 - Standards for discharge of duty.
Full text of South Carolina South Carolina Code of Laws § 9-16-40 — Standards for discharge of duty., with citation guidance and answers to common questions.
§ 9-16-40. Standards for discharge of duty.
A trustee, commission member, or other fiduciary shall discharge duties with respect to a retirement system:
(1) solely in the interest of the retirement systems, participants, and beneficiaries;
(2) for the exclusive purpose of providing benefits to participants and beneficiaries and paying reasonable expenses of administering the system;
(3) with the care, skill, and caution under the circumstances then prevailing which a prudent person acting in a like capacity and familiar with those matters would use in the conduct of an activity of like character and purpose;
(4) impartially, taking into account any differing interests of participants and beneficiaries;
(5) incurring only costs that are appropriate and reasonable; and
(6) in accordance with a good faith interpretation of this chapter.
HISTORY: 1998 Act No. 371, SECTION 2, eff May 26, 1998; 2005 Act No. 153, Pt IV, SECTION 2, eff July 1, 2005.
Source: official South Carolina text · Last verified 2026-08-27
Frequently Asked Questions About South Carolina § 9-16-40
What does South Carolina Code of Laws § 9-16-40 cover?
Section 9-16-40 ("Standards for discharge of duty.") 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 § 9-16-40?
A common citation format is "South Carolina Code of Laws § 9-16-40" (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 § 9-16-40 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.