Connecticut General Statutes 38a-87 – Qualified United States financial institutions
Current as of: 2024 | Check for updates
|
Other versions
For purposes of those provisions of sections 38a-85 to 38a-89, inclusive, specifying those institutions that are eligible to act as a fiduciary of a trust, “qualified United States financial institution” means an institution that (1) is organized or, in the case of a United States branch or agency office of a foreign banking organization, licensed, under the laws of the United States or any state thereof and has been granted authority to operate with fiduciary powers and (2) is regulated, supervised and examined by federal or state authorities having regulatory authority over banks and trust companies.
Terms Used In Connecticut General Statutes 38a-87
- banks: shall include all incorporated banks. See Connecticut General Statutes 1-1
- Fiduciary: A trustee, executor, or administrator.
- State: means any state, district, or territory of the United States. See Connecticut General Statutes 38a-1
- United States: means the United States of America, its territories and possessions, the Commonwealth of Puerto Rico and the District of Columbia. See Connecticut General Statutes 38a-1