Arizona Laws 6-867. Trust company name
A. It is unlawful for a person to make use of the words "trust" or "trust company" or any other words in a manner reasonably calculated to convey the impression that the person is engaged in the trust business unless the act is done by or on behalf of a person having authority under this chapter or conducting subdivision trust activity pursuant to chapter 7 of this title.
Terms Used In Arizona Laws 6-867
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Person: includes a corporation, company, partnership, firm, association or society, as well as a natural person. See Arizona Laws 1-215
- Trust business: means the holding out by a person to the public at large by advertising, solicitation or other means that the person is available to act as a fiduciary in this state and accepting and undertaking to perform the duties as such a fiduciary in the regular course of business. See Arizona Laws 6-851
B. Nothing in this section shall prohibit any existing corporation that does not have authority under this chapter from using in its name the words "trust" or "trust company" if that corporation was originally organized under the laws of the territory of Arizona and has not since the date of its original organization amended or restated its articles of incorporation to delete from its name the words "trust" or "trust company".