In SC, what does OLD CAR stand for in fiduciary duties owed to a client?

In SC, what does OLD CAR stand for in fiduciary duties owed to a client?

• A. Ownership, Loyalty, Disclosure, Caring, Accounting, Reasonable care.
• B. Obedience, Loyalty, Disclosure, Confidentiality, Accounting, Reasonable care and skill.
• C. Obedience, Loyalty, Disclosure, Confidentiality, Accounting, Reasonable care.
• D. Obedience, Loyalty, Disclosure, Confidentiality, Accountability, Reasonable care.

Answer: (C)

In South Carolina, a licensee who represents a client has a defined set of fiduciary duties that guide the relationship. The OLD CAR acronym captures these duties as Obedience, Loyalty, Disclosure, Confidentiality, Accounting, and Reasonable care. Obedience means following lawful instructions from the client. Loyalty requires putting the client’s interests above the licensee’s own or others’ interests. Disclosure is about sharing all known material facts that could affect the client’s decision. Confidentiality protects information the client entrusts to the licensee, even after the relationship ends. Accounting involves properly handling and accounting for all funds and documents related to the transaction. Reasonable care means performing duties with the appropriate level of skill and diligence. Some distractors use terms like Ownership or Caring, or add “and skill,” or swap Accounting for Accountability. Those don’t align with SC’s standard fiduciary duties, which is why the six-part OLD CAR phrasing—Obedience, Loyalty, Disclosure, Confidentiality, Accounting, and Reasonable care—best matches the required duties.

In South Carolina, a licensee who represents a client has a defined set of fiduciary duties that guide the relationship. The OLD CAR acronym captures these duties as Obedience, Loyalty, Disclosure, Confidentiality, Accounting, and Reasonable care.

Obedience means following lawful instructions from the client. Loyalty requires putting the client’s interests above the licensee’s own or others’ interests. Disclosure is about sharing all known material facts that could affect the client’s decision. Confidentiality protects information the client entrusts to the licensee, even after the relationship ends. Accounting involves properly handling and accounting for all funds and documents related to the transaction. Reasonable care means performing duties with the appropriate level of skill and diligence.

Some distractors use terms like Ownership or Caring, or add “and skill,” or swap Accounting for Accountability. Those don’t align with SC’s standard fiduciary duties, which is why the six-part OLD CAR phrasing—Obedience, Loyalty, Disclosure, Confidentiality, Accounting, and Reasonable care—best matches the required duties.