Written Approval of Superintendent to Conduct Trust Business.

  1. Law
  2. Code of Alabama
  3. Banks and Financial Institutions.
  4. Regulation of Trust Business of Banks and Trust Companies.
  5. General Provisions.
  6. Written Approval of Superintendent to Conduct Trust Business.

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Section 5-11A-2

Written approval of superintendent to conduct trust business.

No bank shall have the right to operate or conduct a trust department or become a trustee or a fiduciary without having received the prior written approval of the superintendent and otherwise complied with Section 5-11A-1, even though the certificate of incorporation of the bank might contain language covering such authority.

(Acts 1980, No. 80-658, §5-11-2.)


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