State Codes and Statutes

State Codes and Statutes

Statutes > North-carolina > Chapter_53 > GS_53-314

Subpart D.  Out‑of‑StateTrust Institution Trust Offices and Representative Trust Offices.

§ 53‑314.  Trustbusiness through a branch or trust office.

An out‑of‑statetrust institution may engage in trust business in this State only if it (i) maintainsa trust office in this State as permitted by this Subpart, (ii) was allowed tomaintain a trust office in this State under laws, or rules or orders of theCommissioner in effect prior to the date of enactment of this Article, but onlyto the extent allowed and subject to all limitations and conditions imposedunder those laws, rules, or orders, or (iii) is a depository institution thatmaintains a branch in this State. (2001‑263, s. 1; 2005‑269, s. 7.)