summary
Introduced
01/15/2026
01/15/2026
In Committee
01/15/2026
01/15/2026
Crossed Over
Passed
Dead
Introduced Session
126th General Assembly
Bill Summary
Amend The South Carolina Code Of Laws By Adding Section 62-1-113 So As To Provide A Definition For The Term "trust Business."
AI Summary
This bill, titled "Trust Business," proposes to add a new section, 62-1-113, to the South Carolina Code of Laws to define the term "trust business." The definition clarifies that "trust business" specifically refers to the provision of services related to the investment in or management of a common trust fund, and importantly, it excludes any other fiduciary activities undertaken by an individual or organization, regardless of their legal structure. This clarification aims to provide a precise understanding of what constitutes "trust business" within the state's legal framework, distinguishing it from broader fiduciary responsibilities.
Committee Categories
Justice
Sponsors (1)
Last Action
Referred to Committee on Judiciary (on 01/15/2026)
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.scstatehouse.gov/billsearch.php?billnumbers=0818&session=126&summary=B |
| Fiscal Note - S0818 2026-01-15 Introduced | https://www.scstatehouse.gov/sess126_2025-2026/fiscalimpactstatements/S0818%202026-01-15%20introduced.pdf |
| BillText | https://www.scstatehouse.gov/sess126_2025-2026/prever/818_20260115.htm |
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