South Carolina Code 59-153-60. Compliance by trustee or fiduciary
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(A) Compliance by the trustee or other fiduciary with Sections 59-153-30, 59-153-40, and 59-153-50 must be determined in light of the facts and circumstances existing at the time of the trustee‘s or fiduciary‘s decision or action and not by hindsight.
(B) The trustee’s investment and management decisions must be evaluated not in isolation but in the context of the trust portfolio as a whole and as a part of an overall investment strategy having risk and return objectives reasonably suited to the endowment system.
Terms Used In South Carolina Code 59-153-60
- Fiduciary: A trustee, executor, or administrator.
- Fiduciary: means a person who:
(a) exercises any authority to invest or manage assets of a system;
(b) provides investment advice for a fee or other direct or indirect compensation with respect to assets of a system or has any authority or responsibility to do so; or
(c) is a member of the board of trustees of the respective institution when it acts as trustee for the endowment system. See South Carolina Code 59-153-10 - Trustee: A person or institution holding and administering property in trust.
- Trustee: means the board of trustees of the respective institutions of higher learning. See South Carolina Code 59-153-10