32-1-1001. Definition of foreign trust company. (1) For the purposes of this part, the term "foreign trust company" includes each banking and trust association or corporation organized under the laws of any state other than Montana that has the power to act as trustee, guardian, or conservator and each national banking association that maintains its principal office in any state other than Montana that has been granted permission by the comptroller of the currency to act in a fiduciary capacity under the provisions of 12 U.S.C. 92a, as amended.
(2) A foreign trust company acting pursuant to this part is not a foreign corporation regulated by 32-1-402.
History: En. Sec. 1, Ch. 290, L. 1993; amd. Sec. 3, Ch. 15, L. 2005.
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