There is created the Board of Trustees for the Children's Trust Fund of South Carolina composed of nine members appointed by the Governor with the advice and consent of the Senate. The Governor shall give consideration to recommendations for appointment made by the Joint Legislative Committee on Children. One member must be appointed from each congressional district of the State, and three members must be appointed at large for terms of four years and until successors are appointed and qualify, except members appointed from even-numbered congressional districts and one at-large member must be initially appointed for terms of two years only. Vacancies for any reason must be filled in the manner of the original appointment for the unexpired term. No member shall serve more than two terms or eight years, whichever is longer.

Three members must be knowledgeable in banking, finance, investments, tax laws, or business. Three members must be knowledgeable in the organization and administration of volunteer community services and grant administration. Three members must be knowledgeable in child development, child health, child psychology, education, juvenile delinquency, or other related field.

Members may be paid per diem, mileage, and subsistence as established by the board not to exceed standards provided by law for boards, committees, and commissions. A complete report of the activities of the Trust Fund must be made annually to the General Assembly.