State Codes and Statutes

Statutes > Connecticut > Title36a > Chap665b > Sec36a-372

      Sec. 36a-372. Investment in common trust funds by national banking associations and foreign corporations acting as executor or testamentary trustee. Any national banking association or foreign corporation which has qualified and is acting as executor or testamentary trustee in this state pursuant to the provisions of section 45a-206 may, subject to the provisions of this section, invest any funds held by it as an executor or testamentary trustee in any common trust fund which it maintains according to the laws of the state where its principal place of business is located, provided no such investment may be made unless the will under which such executor or testamentary trustee is acting either specifically permits such investment or authorizes such executor or testamentary trustee to exercise its discretion with respect to investments or does not specifically prohibit investment in common trust funds.

      (P.A. 94-122, S. 173, 340.)

      History: P.A. 94-122 effective January 1, 1995.