(a) (1) An out-of-state trust institution may establish or acquire and maintain a representative trust office in this state.(2) An out-of-state trust institution not maintaining a trust office in this state and desiring to establish or acquire and maintain a representative trust office shall file an application in the form prescribed by the Bank Commissioner.(3) The application under subdivision (a)(2) of this section shall provide:(A) The name of the out-of-state trust institution;(B) A certificate of good standing from the out-of-state trust institution's chartering authority;(C) A copy of the resolution adopted by the board authorizing the representative trust office of the out-of-state trust institution; and(D) The payment for the filing fee, if any, prescribed by the commissioner.
(1) An out-of-state trust institution may establish or acquire and maintain a representative trust office in this state.
(2) An out-of-state trust institution not maintaining a trust office in this state and desiring to establish or acquire and maintain a representative trust office shall file an application in the form prescribed by the Bank Commissioner.
(3) The application under subdivision (a)(2) of this section shall provide:(A) The name of the out-of-state trust institution;(B) A certificate of good standing from the out-of-state trust institution's chartering authority;(C) A copy of the resolution adopted by the board authorizing the representative trust office of the out-of-state trust institution; and(D) The payment for the filing fee, if any, prescribed by the commissioner.
(A) The name of the out-of-state trust institution;
(B) A certificate of good standing from the out-of-state trust institution's chartering authority;
(C) A copy of the resolution adopted by the board authorizing the representative trust office of the out-of-state trust institution; and
(D) The payment for the filing fee, if any, prescribed by the commissioner.
(b) An applicant under subsection (a) of this section may commence business at the representative trust office on the thirty-first day after the date the commissioner acknowledges receipt of the application, unless the commissioner specifies an earlier or later date.
(c) (1) The thirty-day period of review under subsection (a) of this section may be extended by the commissioner on a determination that the application raises issues that require additional information or additional time for analysis.(2) If the period of review is extended, the out-of-state trust institution may establish the representative trust office only on prior written approval by the commissioner.
(1) The thirty-day period of review under subsection (a) of this section may be extended by the commissioner on a determination that the application raises issues that require additional information or additional time for analysis.
(2) If the period of review is extended, the out-of-state trust institution may establish the representative trust office only on prior written approval by the commissioner.
(d) (1) The commissioner may deny approval of the representative trust office under this section if the commissioner finds that the applicant lacks sufficient financial resources to undertake the proposed expansion without adversely affecting its safety or soundness or that the proposed representative trust office would be contrary to the public interests.(2) In acting on the application, the commissioner shall consider the views of the appropriate bank supervisory agencies.
(1) The commissioner may deny approval of the representative trust office under this section if the commissioner finds that the applicant lacks sufficient financial resources to undertake the proposed expansion without adversely affecting its safety or soundness or that the proposed representative trust office would be contrary to the public interests.
(2) In acting on the application, the commissioner shall consider the views of the appropriate bank supervisory agencies.