Section 2-3-401 – Short Title.

2-3-401. Short title. W.S. 2-3-401 through 2-3-403 may be cited as the “Uniform Common Trust Fund Act”.

Section 2-3-402 – Authority to Establish; Purpose.

2-3-402. Authority to establish; purpose. (a) Any bank or trust company qualified to act as fiduciary in this state may establish and administer common trust funds composed of property permitted by law for investment in trust funds for the purpose of furnishing investments to: (i) Itself as fiduciary; (ii) Itself and others as cofiduciaries; (iii) […]

Section 2-3-403 – Accounting.

2-3-403. Accounting. Unless ordered by a court of competent jurisdiction, the bank or trust company operating common trust funds is not required to render a court accounting with regard to these funds, but it may by application to the court secure approval of an accounting on such conditions as the court may establish.

Section 2-3-404 – Common Trust Fund Distinct From Participating Fiduciaries.

2-3-404. Common trust fund distinct from participating fiduciaries. (a) Each common trust fund established hereunder is a separate and distinct entity from the fiduciaries participating in the fund. No fiduciary in administering its and other fiduciaries participation in a common trust fund may be required to make any apportionment or allocation between the principal and […]

Section 2-3-405 – “Affiliated” Defined.

2-3-405. “Affiliated” defined. For purposes of this article, two (2) or more banks or trust companies are affiliated if they are members of the same affiliated group, within the meaning of section 1504 of the United States Internal Revenue Code.

Section 2-3-406 – Exemption.

2-3-406. Exemption. The establishment and maintenance of common trust funds under this article are exempt from the provisions of title 17, chapter 4.