Registering investments in name of nominee--Liability of trust company

Any trust company, when acting in this state as a fiduciary or a co - fiduciary with others, may with the consent of its co - fiduciary or co - fiduciaries, if any, cause any investment held in any such capacity, to be registered and held in the name of a nominee or nominees of the trust company. The trust company is liable for the acts of any nominee with respect to any investment so registered. Source: SL 1995, ch 268 , § 61.