9-B §1211. General purpose and authority
Title 9-B: FINANCIAL INSTITUTIONS
Part 12: SPECIALTY OR LIMITED PURPOSE FINANCIAL INSTITUTIONS HEADING: PL 1997, C. 398, PT. J, §2 (NEW)
Chapter 121: NONDEPOSITORY TRUST COMPANIES HEADING: PL 1997, C. 398, PT. J, §2 (NEW)
§1211. General purpose and authority
A nondepository trust company is a financial institution organized under the provisions of this Title whose activities are generally limited to trust or fiduciary matters. Unless otherwise indicated in this chapter or to the extent inconsistent with this chapter or with the general purpose of a nondepository trust company, a nondepository trust company has all the powers, duties and obligations of a financial institution under this Title. [1997, c. 398, Pt. J, §2 (NEW).]
SECTION HISTORY
1997, c. 398, §J2 (NEW).