9-1611.   Bank or trust company acting as fiduciary may deal in mannerauthorized by instrument with company having control of bank or trustcompany.Whenever the governing instrument of any trust authorizes a bank ortrust company acting as fiduciary to either:

      (a)   Hold as a trust investment its own stock or obligations, or propertyacquired from itself; or

      (b)   sell or transfer, by loan or otherwise, property held as fiduciaryto itself; or

      (c)   purchase for investment the stock or obligations of, or propertyfrom, itself; such instrument shall also be deemed to authorize such bankor trust company to deal in any manner described above, with any companywhich has or acquires control of such bank or trust company.

      History:   L. 1973, ch. 49, § 1; July 1.