§ 28-1-11-9 — Trust business

Any bank or trust company shall have power
to take, accept and execute any and all legal trusts, duties, and powers
in regard to the holding, management, sale and disposition of any
property or estate, real or personal, wherever located, and the rents and
profits thereof, which may be granted or confided to it by any court of
competent jurisdiction, or by any person, corporation, municipality or
other authority; to take, accept and execute any and all trusts and
powers of whatsoever nature or description which may be conferred
upon or entrusted or submitted to it by any person, firm, company, or
any body politic, corporation, foreign or domestic, or other authority,
by grant, assignment, transfer, devise, bequest or otherwise, or which
may be entrusted or committed or transferred to it or vested in it by
order of any court of competent jurisdiction; and generally to execute
trusts of every description not inconsistent with the laws of this state or
of the United States.
Formerly: Acts 1933, c.40, s.178.