Alabama Code (Last Updated: November 28, 2014) |
Title5 BANKS AND FINANCIAL INSTITUTIONS. |
Chapter11A. REGULATION OF TRUST BUSINESS OF BANKS AND TRUST COMPANIES. |
Article1. General Provisions. |
§5-11A-2. Written approval of superintendent to conduct trust business.
Latest version.
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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.