In addition to its other powers, a state bank that is authorized by its charter to
exercise trust powers, upon proper qualification under this code, has the power to
act as a fiduciary in any capacity. It may also act as registrar, transfer agent, fiscal agent, or attorney-in-fact
and have the power to receive, manage, and apply sinking funds. Every state bank that is authorized by its charter to exercise trust powers pursuant
to this section shall make and file with the commissioner an annual report of trust
assets and such other reports as the banking board may require by rule, on such forms
as may be prescribed by the banking board. No report filed pursuant to this section shall be required to be published.
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
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