Dunn Ex Rel. Estate of Brown v. North Carolina National Bank

Lewis, Chief Justice:

This appeal concerns the constitutionality of certain provisions of Section 21-29-40, South Carolina Code (1976), which prohibits a foreign corporation that is domiciled or licensed to do business in a state contiguous to the state of South Carolina from performing as a testamentary trustee. We find that the statutory scheme offends the provisions of our State Constitution and reverse.

In 1973, Mrs. Dunn and her husband executed a will in North Carolina, whereby the remainder of her estate was granted to a “pour-over” trust to be administered by the North Carolina National…