§ 28-14-3-22 — Nonresident fiduciaries; establishment of Indiana office; rights, privileges, and restrictions

Indiana § 28-14-3-22

• Jurisdiction: Indiana
• Art. 14: CORPORATE FIDUCIARIES
• Ch. 3: Powers and Duties

Text

(a) Subject to IC 28-1-22, a corporate
fiduciary, trust company, or bank that is organized and doing business
under the laws of any state, territory, or district other than Indiana,
including a national bank or national trust company that is primarily
domiciled in any other state, may establish an office to conduct
business as a fiduciary in Indiana if the law of the state, territory, or
district in which the corporate fiduciary, trust company, or bank is
primarily domiciled would allow an Indiana bank, an Indiana corporate
fiduciary, or an Indiana trust company to establish a place of business
or an agency in that state, territory, or district for the conduct of
business as a fiduciary.
(b) A corporate fiduciary, trust company, or bank that is organized
and doing business under the laws of any state, territory, or district
other than Indiana, including a national bank or national trust company
that is primarily domiciled in any other state, has the same rights,
privileges, and restrictions, including capital requirements, as an
Indiana bank, an Indiana corporate fiduciary, or an Indiana trust
company of like character or charter, and to the same extent as if the
corporate fiduciary, trust company, or bank organized and doing
business under the laws of any state, territory, or district other than
Indiana had been organized under this article, to transact the business
for which a certificate of admission is issued.

Legislative History

As added by P.L.262-1995, SEC.90. Amended by P.L.192-1997, SEC.29; P.L.27-2012, SEC.109.