Chapter 05 - Trust Business Of Banks

Chapter 05 - Trust Business Of Banks

§ 51A-5-1 Use of "trust" in name restricted--Exercise of trust powers restricted--Misdemeanor.
§ 51A-5-1.1 Powers of banks engaging in trust business.
§ 51A-5-1.2 "Trust business" defined.
§ 51A-5-2 Bank as trustee or custodian for retirement benefit plans.
§ 51A-5-3 Fiduciary authority of bank authorized by charter to exercise trust powers.
§ 51A-5-4 Deposit required to do trust business--Amount and form of deposit--Disposition of income.
§ 51A-5-5 Deposit available for satisfaction of claims upon liquidation, abandonment of trust powers, or resignation from fiduciary positions.
§ 51A-5-6 National banks' authority to engage in trust business--Examination of trust business--Acceptance of federal examination.
§ 51A-5-7 Foreign bank or trust company to comply with requirements to act as fiduciary in state--Violation as misdemeanor.
§ 51A-5-8 Reciprocal privileges extended to foreign bank or trust company acting as fiduciary.
§ 51A-5-9 Filing with Office of the Secretary of State by foreign bank or trust company acting as fiduciary--Designation as agent to receive process--Service of process.
§ 51A-5-10 Establishment of place of business not permitted or prohibited by filing requirements.
§ 51A-5-11 Investment powers of trust company.
§ 51A-5-12 Voting of bank shares by cotrustee.
§ 51A-5-13 Segregation of assets held by bank as fiduciary.
§ 51A-5-14 Deposit of federally guaranteed securities with federal reserve bank.
§ 51A-5-15 Records of depositor to show ownership of securities--Transfers by book entries.
§ 51A-5-16 Duty of custodian to certify deposited securities to fiduciary--Duty of fiduciary.
§ 51A-5-17 Application of provisions to fiduciaries and custodians whenever appointed.
§ 51A-5-18 Repealed.
§ 51A-5-19 Oath or bond not required of bank to qualify as fiduciary.
§ 51A-5-20 Nominees used by bank acting as fiduciary or cofiduciary.
§ 51A-5-21 Deposit in clearing corporation of securities held as fiduciary or custodian.
§ 51A-5-22 Ownership of stock in clearing corporation not required for deposit of securities by fiduciary or custodian.
§ 51A-5-23 Holding in bulk of securities deposited in clearing corporation--Merger of certificates.
§ 51A-5-24 Records of securities deposited in clearing corporation--Transfer by book entry--Certification to interested party of securities held.
§ 51A-5-25 Approval or ratification of acceptance or relinquishment of fiduciary accounts by board of directors or committee.
§ 51A-5-26 Supervision of investment of fiduciary funds by committee designated by board of directors.
§ 51A-5-27 Reports of committees designated to supervise fiduciary accounts.
§ 51A-5-28 Trust service office defined.
§ 51A-5-29 Trust service office--Approvals for establishment.
§ 51A-5-30 Trust service office--Business allowed.
§ 51A-5-31 Trust service office--Agreement between institutions--Filing--Notice--Contents--Substitution as fiduciary.
§ 51A-5-32 Trust service office--Persons to whom notice required--Denial of substitution.

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