48A.07 TRUST COMPANY OR BANK; SPECIAL POWERS AND DUTIES AS FIDUCIARY. Subdivision 1. Qualifying organizations. A trust company, or bank that holds a certificate as provided in section 48.37, may exercise the powers and privileges set forth in this section. Subd. 2. Taking and holding real and personal property in trust. (a) The bank or […]
48A.08 INCIDENTAL INVESTMENTS, POWERS, AND LIMITATIONS. Subdivision 1. Qualifying organization. A trust company, or a bank that holds a certificate as provided in section 48.37, may exercise the powers and privileges set forth in this section. Subd. 2. Investment powers. (a) The bank or trust company may acquire, use, and improve, and for that purpose […]
48A.09 DEFINITIONS. Subdivision 1. Terms. For purposes of this section and section 48A.10, the terms defined in this section have the meanings given them. Subd. 2. Affiliated bank. “Affiliated bank,” with respect to another bank or a trust company, means a bank that is owned or controlled by the corporation that owns or controls that […]
48A.10 SUBSTITUTION; PROCEDURE. Subdivision 1. Application. A bank or trust company may file an application with the district court in the county in which an affiliated bank or other bank or trust company for which it seeks to be substituted is located requesting that it be substituted, except as is expressly excluded in the application, […]
48A.11 NATIONAL BANKS AS FIDUCIARIES. A national bank in this state granted a special permit to act in a fiduciary capacity by either the Federal Reserve Board under subsection K of section 11 of the Federal Reserve Act, as amended by the act of September 26, 1918, or the Office of the Comptroller of the […]
