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Article: South Carolina National Bank to manage new S.C. Municipal Bond Fund.
- Article from:
- PR Newswire
- Article date:
- January 2, 1991
CopyrightCOPYRIGHT 1991 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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SOUTH CAROLINA NATIONAL BANK TO MANAGE NEW S.C. MUNICIPAL BOND FUND
COLUMBIA, S.C., Jan. 2 /PRNewswire/ -- A new South Carolina Municipal Bond Fund, managed by South Carolina National Bank, is now available. This fund offers investors double tax-free investment income.
The South Carolina Municipal Bond Fund is a mutual fund that invests primarily in South Carolina municipal securities. As a result, those dividends are generally free from federal tax as well as South Carolina state income tax. That means South Carolina residents who own shares in this mutual fund will usually pay neither federal nor state taxes on this income they earn.
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