§ 81-27-5.104. Mutual funds
A state trust company may invest for its own account in equity securities of an investment company registered under the Investment Company Act of 1940 (15 USCS Section 80a-1 et seq.) and the Securities Act of 1933 (15 USCS Section 77a et seq.) if the portfolio of the investment company consists wholly of investments in […]
§ 81-27-5.105. Engaging in commerce prohibited
Except as otherwise provided by this chapter or rules adopted under this chapter, a state trust company may not invest its funds in trade or commerce by buying, selling, or otherwise dealing in goods or by owning or operating a business not part of the state trust business, except as necessary to fulfill a fiduciary […]
§ 81-27-5.101. Securities
A state trust company may invest its corporate funds in any type or character of equity or investment securities subject to the limitations provided by this section. Unless the commissioner approves maintenance of a lesser amount in writing, a state trust company must invest and maintain an amount equal to at least forty percent (40%) […]
§ 81-27-5.102. Transactions in state trust company shares or participation shares
A state trust company may acquire its own shares or participation shares if: The amount of its undivided profits is sufficient to fully absorb the acquisition of the shares or participation shares under regulatory accounting principles; or The state trust company obtains the prior written approval of the commissioner. A state trust company may acquire […]
§ 81-27-5.103. Subsidiaries
Except as otherwise provided by this article or rules or regulations adopted under this article, a state trust company may acquire or establish a subsidiary to conduct any activity that may lawfully be conducted through the form of organization chosen for the subsidiary. A state trust company may not invest more than an amount equal […]