Corporate trustee buying its own stock

No corporate trustee, unless expressly authorized by the trust instrument, may purchase for a trust shares of its own stock, or its bonds, or other securities, or the stock, bonds, or other securities of an affiliate. Source: SL 1943, ch 308 , § 7; SDC Supp 1960, § 59.0507; SL 2006, ch 243 , § 4.