§ 62-7-404

S.C. Code Ann. § 62-7-404

Trust purposes

Effective Jan 1, 20142005 Act No. 66, SECTION 1; 2013 Act No. 100, SECTION 2, eff January 1, 2014.

A trust may be created only to the extent its purposes are lawful, not contrary to public policy, and possible to achieve. A trust and its terms must be for the benefit of its beneficiaries.

HISTORY: 2005 Act No. 66, SECTION 1; 2013 Act No. 100, SECTION 2, eff January 1, 2014.

Effect of Amendment

The 2013 amendment inserted ", not contrary to public policy,".