(a) No company shall act as a fiduciary in this state except:
(1) A state trust company;
(2) A state bank;
(3) An association organized under the laws of this state and authorized to act as a fiduciary pursuant to § 23-37-101 et seq.
(4) A national bank having its principal office in this state and authorized by the Comptroller of the Currency to act as a fiduciary pursuant to 12 U.S.C. § 92a;
(5) A federally chartered savings association having its principal office in this state and authorized by its federal chartering authority to act as a fiduciary;
(6) A subsidiary trust company authorized to act as a fiduciary under § 23-47-801 et seq.;
(7) An out-of-state bank with a branch in this state established or maintained pursuant to the Arkansas Interstate Banking and Branching Act, § 23-48-901 et seq., or a trust office licensed by the Bank Commissioner pursuant to this chapter;
(8) An out-of-state trust company with a trust office licensed by the commissioner pursuant to this chapter.
(b) No company shall engage in an unauthorized trust activity.
Section: Previous 23-51-158 23-51-159 23-51-160 23-51-161 23-51-162 23-51-163 23-51-164 23-51-165 23-51-166 23-51-167 23-51-168 23-51-169 23-51-170 23-51-171 23-51-172 NextLast modified: November 15, 2016