Joint and several liability of trust company affiliates

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    An entity that controls, is controlled by, or is under common control with a trust company shall be jointly and severally liable for claims against the trust company when the trust company is acting as a trustee of bond indentures or similar debt issuances, if the trust company:

        (1)    May exercise trust or fiduciary powers in the State; and

        (2)    Meets the qualifications under 12 U.S.C. § 1841(c)(2)(D).


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