TITLE 26

BANKS AND BANKING

CHAPTER 33

TRUST INSTITUTIONS — STATE TRUST INSTITUTION OFFICES

26-3302.  Branches and offices of state trust institutions. (1) A state trust institution may act as a fiduciary and engage in a trust business at each trust office as permitted by this act, and at a branch in this state.

(2)  A state trust institution may not act as a fiduciary but may otherwise engage in a trust business at a representative trust office as permitted by this act.

(3)  Notwithstanding subsections (1) and (2) of this section, a state trust institution may not engage at an out-of-state office in any trust business not permitted for such an office by the host state to trust institutions chartered by such state.

History:

[26-3302, added 2000, ch. 288, sec. 9, p. 981.]