SC Board of Financial Instituions v. CDM Corp, Inc.

Summary

The court held that corporations serving as personal representatives, guardians, conservators, or attorneys in fact in probate matters are not conducting a regulated "trust business" under the statute. It interpreted the statutory term in context, relying on the Banking, Probate, and Trust Codes to distinguish trust institutions and trustees from other fiduciaries. The court therefore reversed the court of appeals.