Section 390:18 Nominees.
Any trust company or similar corporation, incorporated under the laws of this state, and any national bank duly authorized and located within the state, when acting in a fiduciary capacity, either alone or jointly with an individual or individuals, may, with the consent of the individual fiduciary or fiduciaries, if any, who are hereby authorized to give such consent, cause any stock or other securities to be registered and held in the name of a nominee without mention of the fiduciary relationship, provided that (1) the records of the fiduciary and all accounts rendered by it clearly show the ownership of the stock or other securities, and (2) the nominee shall not have possession of the stock certificate or other security or access thereto except under immediate supervision of the fiduciary. The fiduciary shall be liable for any loss resulting from any act of such nominee in connection with such stock or other securities so held.
Source. 1941, 68:1. RL 312:18.