§ 550. Incorporation; organization certificate. When authorized by the superintendent as provided in article two of this chapter, five or more persons may form a corporation to be known as a mutual trust investment company. Such persons shall subscribe and acknowledge and submit to the superintendent at the superintendent’s office an organization certificate in duplicate […]
§ 551. Investment powers. A mutual trust investment company may invest in such investments as the company may select in its discretion. The amount of stock of any corporation which may be held by any mutual trust investment company shall not exceed five per centum of the number of shares of stock of such corporation […]
§ 552. Accountability. A mutual trust investment company shall not be responsible for ascertaining the investment powers of any fiduciary who may purchase its stocks or shares and shall not be liable for accepting funds from a fiduciary in violation of the restrictions in any will, deed or other instrument in the absence of actual […]
§ 553. Investment by fiduciaries in shares. Unless the instrument or the order, decree or judgment under which moneys are held in a fiduciary capacity prohibits such investment, an eligible fiduciary or fiduciaries may invest and reinvest moneys so held in shares of stock of one or more mutual trust investment companies as it may […]
