Authority to operate trust business

A state trust company or a state bank may: 1. Perform any act as a fiduciary; 2. Engage in any trust business; and 3. Exercise any incidental power that is necessary to enable it to fully exercise, according to commonly accepted fiduciary customs and usages, a power conferred in this act. Added by Laws 1998, c. 104, § 10, eff. Nov. 1, 1998.