South Carolina Code 41-43-120. Authority bonds to constitute lawful fiduciary investment
Current as of: 2023 | Check for updates
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Terms Used In South Carolina Code 41-43-120
- Act: means the South Carolina Jobs - Economic Development Fund Act. See South Carolina Code 41-43-20
- Bonds: means any evidence of indebtedness of the authority in any form including, but not limited to, notes, warrants, bonds, or any similar obligation evidenced in written, printed, or electronic means. See South Carolina Code 41-43-20
It is lawful for executors, administrators, guardians, committees, and other fiduciaries to invest any monies in their hands in bonds issued pursuant to this act. Nothing contained in this section is construed as relieving any person from the duty of exercising reasonable care in selecting securities.