§ 81-27-5.401. Borrowing limit
Except with the prior written approval of the commissioner, a state trust company may not have liabilities outstanding exceeding an amount equal to five (5) times its capital.
§ 81-27-4.204. Capital notes or debentures
With the prior written approval of the commissioner, any state trust company may, at any time, through action of its board, and without requiring action of its shareholders or participants, issue and sell its capital notes or debentures, which must be subordinate to the claims or depositories and may be subordinate to other claims, including […]
§ 81-27-4.301. Private trust company
A private trust company engaging in the trust business in this state shall comply with each and every provision of this chapter applicable to a trust company unless expressly exempted therefrom in writing by the commissioner pursuant to this section, by rule or regulation adopted by the commissioner or under a predecessor statute. A private […]
§ 81-27-4.302. Requirements to apply for and maintain status as a private trust company
Application. A private trust company requesting an exemption from the provisions of this chapter pursuant to Section 81-27-4.301 shall file an application with the commissioner containing the following: The commissioner shall not approve a private trust company exemption unless the application is completed as required in paragraph (1) of this subsection. The exempt private trust […]
§ 81-27-4.303. Conversion to public trust company
A private trust company may terminate its status as a private trust company and commence transacting business with the general public. A private trust company desiring to commence transacting business with the general public shall file a notice on a form prescribed by the commissioner, which shall set forth the name of the private trust […]
§ 81-27-5.001. Investment in state trust company facilities
In this subarticle, “state trust company facility” means real estate, including an improvement, owned, or leased to the extent the lease or the leasehold improvements are capitalized, by a state trust company for the purpose of: Providing space for state trust company employees to perform their duties and space for parking by state trust company […]
§ 81-27-5.002. Other real estate
A state trust company may not acquire real estate except: As permitted by Section 81-27-5.001 or as otherwise provided by this chapter, including rules or regulations adopted under this chapter; If necessary to avoid or minimize a loss on a loan or investment previously made in good faith; or With the prior written approval of […]
§ 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 […]