State trust company definition

State trust company means a company organized under the provisions of this Article and a trust company previously organized under other provisions of Chapter 53 of the General Statutes to operate only as a trust company and not as a commercial bank.

State trust company means a corporation or a lim- ited liability company organized or reorganized under this title, including a trust company organized under the laws of Washington state before January 5, 2015.

State trust company or "trust company" means a trust association or limited trust association organized or reorganized under this subtitle, including an association organized under the laws of this state before September 1, 1997. If the context or circumstances require, the term includes a trust company organized under the laws of another state that lawfully maintains a trust office in this state in accordance with Chapter 187.

Examples of State trust company in a sentence

• The Commissioner, for the purpose of exercising any power under the provisions of this Subpart, may (i) employ any liquidating agents, attorneys, accountants, consultants, and clerks necessary to properly conduct the business of or liquidate and distribute the assets of a State trust company; (ii) fix the compensation for the agents, attorneys, accountants, consultants, and clerks; and (iii) pay the compensation of those persons out of the assets of the State trust company.

• The conservator, under the direction of the Commissioner, shall take possession of the fiduciary records and other books, records, and assets of every description of the State trust company placed under conservatorship and take actions necessary to conserve those assets pending further disposition of its business as provided by law.

• All expenses of the conservator shall be paid out of the assets of the State trust company under conservatorship and shall be a lien thereon which shall be prior to any other lien provided by law.

• Provisions for conservator; duties and powers.Whenever the Commissioner deems it necessary in order to conserve the assets of a State trust company for the benefit of clients or creditors, the Commissioner may appoint a conservator for the State trust company and require of the conservator a bond with any surety the Commissioner deems necessary and proper in an amount deemed sufficient by the Commissioner.

• A State bank, State savings associa- tion, State trust company, or credit union entering into a consolidation or merger with a Federal savings association when the re- sulting institution will be a Federal savings association must follow the procedures for such consolidations or mergers set out in the law of the State or other jurisdiction under which the State bank, State savings associa- tion, State trust company, or credit union is organized.

More Definitions of State trust company

State trust company means a trust com- pany organized under State law that is not engaged in the business of receiving deposits, other than trust funds.

State trust company means a corporation organized under this act and chartered to act as a fiduciary by the state, including a trust company organized under the laws of this state before the effective date of this act.

State trust company means a trust company organized under state law that is not engaged in the business of receiving deposits, other than trust funds.(e) Policy—(1) Factors—(i) In general. When the OCC evaluates any applica- tion for a business combination, the OCC considers the following factors:

State trust company means a trust association or limited trust association organized or reorganized under this subtitle, including an association organized under the laws of this state before September 1, 1997.

State trust company means a corporation company organized under the

State trust company means a corporation or a

State trust company means a corporation organized or reorganized