(a) A subsidiary trust company or national trust company may deposit with an affiliated bank fiduciary funds that are being held pending investment, distribution, or payment of debts.
(b) A subsidiary trust company or national trust company may deposit with an affiliated bank fiduciary funds as a permanent investment if authorized by the settlor in the instrument creating the trust or if authorized in a writing delivered to the trustee by a beneficiary currently eligible to receive distributions from a trust.
Section: Previous 23-47-802 23-47-803 23-47-804 23-47-805 23-47-806 23-47-807 NextLast modified: November 15, 2016