We report on the first in-beam $gamma$-ray spectroscopy of the proton-dripline nucleus $^{40}$Sc using two-nucleon pickup onto an intermediate-energy rare-isotope beam of $^{38}$Ca. The $^{9}$Be($^{38}$Ca,$^{40}$Sc$+gamma$)X reaction at 60.9 MeV/nucleon mid-target energy selectively populates states in $^{40}$Sc for which the transferred proton and neutron couple to high orbital angular momentum. In turn, due to angular-momentum selection rules in proton emission and the nuclear structure and energetics of $^{39}$Ca, such states in $^{40}$Sc then exhibit $gamma$-decay branches although they are well above the proton separation energy. This work uniquely complements results from particle spectroscopy following charge-exchange reactions on $^{40}$Ca as well as $^{40}$Ti EC/$beta^+$ decay which both display very different selectivities. The population and $gamma$-ray decay of the previously known first $(5^-)$ state at 892 keV and the observation of a new level at 2744 keV are discussed in comparison to the mirror nucleus and shell-model calculations. On the experimental side, this work shows that high-resolution in-beam $gamma$-ray spectroscopy is possible with new generation Ge arrays for reactions induced by rare-isotope beams on the level of a few $mu$b of cross section.