§412:8-204  Agreement between trust
companies and banks.  A trust company granted full trust powers may
contract by written agreement with any bank or national banking association to
carry on trust services in the bank's or national banking association's name
and for its account at one or more of the banking offices of a bank or national
banking association.  A bank may permit by written agreement any trust company
having its principal office in this State and exercising full trust powers to
carry on trust services at one or more of its banking offices but in the name
and for the account of the trust company.  Any agreement provided for in this
section, including any lease, or modification or extension thereof, shall not
be effective as to any trust company until and unless it is approved in writing
by the commissioner.  The commissioner may approve or disapprove the agreement
upon consideration of the sufficiency of the capital and surplus of the trust
company and the bank, the need for trust services and other facts or
circumstances which the commissioner may deem appropriate. [L 1993, c 350, pt
of §1]