9-4-804 - Restriction on purposes and powers.
9-4-804. Restriction on purposes and powers.
It is not the purpose of the trust company to engage in commercial banking activity or private fiduciary activity; accordingly, the trust company shall not be empowered to accept deposits, or to make loans, or to act as fiduciary for any private person, association or corporation.
[Acts 1985, ch. 118, § 56.]