§ 13-5-604 — Requirements for chartered family trust company

(a) A chartered family trust company shall maintain:
(i) A physical office in this state where original or
true copies, including electronic copies, of all material
business records and accounts of the chartered family trust
company may be accessed and readily available for examination by
the commissioner; and
(ii) A bank account with a state or nationally
chartered bank or savings and loan association having a
principal or branch office in this state.
(b) The board of directors or managers of a chartered
family trust company shall hold regular meetings not less than
one (1) time each year. The commissioner may require a chartered
family trust company to hold in-person or electronic meetings on
a more frequent basis. A chartered family trust company shall
maintain records of all proceedings.