The permissible business of a subsidiary trust company is to engage in such trust business as may be engaged in by a trust company pursuant to section 6-05-08. A subsidiary trust company may not exercise any of the powers provided in subsection 7 of section 6-03-02, nor conduct commercial banking business, but may maintain deposits of funds of fiduciary accounts not currently invested.
Permissible business of subsidiary trust companies
N.D.C.C. § 6-05.1-03 — under Subsidiary Trust Companies.
N.D.C.C. § 6-05.1-03