{"data":{"id":"us-sc/s.c.-code-ann.-59-153-40","jurisdiction":"us-sc","citation":"S.C. Code Ann. § 59-153-40","heading":"Standards for discharge of duties by trustee or other fiduciary.","body":"A trustee or other fiduciary shall discharge duties with respect to an endowment fund:\n(1) solely in the interest of the endowment fund and beneficiaries;\n(2) for the exclusive purpose of providing benefits to his beneficiary and paying reasonable expenses of administering the system;\n(3) with the care, skill, and caution under the circumstances then prevailing which a prudent person acting in a like capacity and familiar with those matters would use in the conduct of an activity of like character and purpose;\n(4) impartially, taking into account any differing interests of beneficiaries;\n(5) incurring only those costs that are appropriate and reasonable; and\n(6) in accordance with a good faith interpretation of this chapter.","path":["Title 59 - EDUCATION","CHAPTER 153 Endowment Funds","ARTICLE 1 Duties of the Trustee, Fiduciaries, Agents"],"source_url":"https://www.scstatehouse.gov/code/t59c153.php","current_through":"2025 Session of the General Assembly","vintage":"","retrieved_at":"2026-09-02T08:06:19Z","sha256":"b8b5b968abc74b0fb24448d906c0c3aa7e741805afb7ce9d95b19e73dfe51433","source_id":"us-sc","stale":false,"prev":"us-sc/s.c.-code-ann.-59-153-30","next":"us-sc/s.c.-code-ann.-59-153-50"},"notice":"GroundRules: Original legal text. Not legal advice."}