§ 6-1711. Engaging in trust business at branch locations permitted - Certain business at representative trust offices prohibited - Limitations on business at out-of-state offices.

A.  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.

B.  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.

C.  Notwithstanding the provisions of subsections A and B of this section, a state bank or a state trust company may not engage at an out-of-state office in any trust business not permitted for such an office by the host state where the office is located to trust institutions chartered by such state.

Added by Laws 1998, c. 104, § 11, eff. Nov. 1, 1998.