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  • PART I ADMINISTRATION OF THE GOVERNMENT
  • TITLE XXII CORPORATIONS
  • CHAPTER 172 TRUST COMPANIES

Section 1 - Definitions

Section 1A - Powers

Section 2 - Application of this chapter and chapters 167C to 167G, inclusive

Section 3 - Use of words “trust company”

Section 4 - Capital structure upon incorporation

Section 5 - Agreement of association

Section 6 - Notice and application to board of bank incorporators; certificate; hearing

Section 7 - First meeting of incorporators

Section 8 - Articles of organization; certificate of incorporation

Section 9 - List of stockholders; certificate authorizing corporation to begin transacting business

Section 9A - Limited purpose trust company; notice and application; out-of-state offices

Section 10 - Repealed, 1987, 239, Sec. 10

Section 11 - By-laws

Section 12 - Stockholder voting

Section 13 - Board of directors; executive committee

Section 14 - Election of officers

Section 15 - Officers and employees; bond

Section 16 - Meetings of board of directors; report on transactions

Section 17 - Duties of treasurer under other provisions of law

Section 18 - Loans or extension of credit to officers or directors; ownership of real property by officers or directors when mortgage held by corporation

Section 19 - Director or officer serving in same capacity for other financial institutions

Section 20 - Fee, commission, gift or other consideration in connection with corporation business; salary, interest on deposits, corporation benefits or profits; disclosure

Section 21 - Misconduct of officer, director, agent or employee

Section 22 - Annual report; balance sheet

Section 22A - Return in form of trial balance to commissioner

Section 23 - Violation of Sec. 18 or 20

Section 24 - Capital stock

Section 25 - Options to purchase, issuance and sale of shares of capital stock to employees

Section 25A - Stock purchase plans, restricted stock purchase plans and stock grant plans

Section 26 - Records and reports of transfers of stock

Section 26A - Notice of proposed acquisition; disapproval

Section 26B - Acquisition of company having capital stock divided into shares

Section 27 - Determination of record date of right to notice of and to vote at stockholders’ meeting

Section 28 - Dividends

Section 29 - Repealed, 1987, 239, Sec. 13

Section 30 - Issue and sale of capital notes or debentures

Section 31 - Reserve

Section 32 - Reserve balances for federal reserve system members

Section 33 - Insufficient reserves

Section 34 - Transfers to surplus reserve

Section 35 - Interest on savings deposits

Section 36 - Consolidation or merger; purchase, sale or exchange of assets; conversion

Section 37 - Real estate holdings of trust company successor to national bank

Section 38 - Advance, loan or purchase of bank assets or stock

Section 38A - Restrictions on approval of merger or consolidation applications

Section 39 - Dissolution and liquidation

Section 40 to 47 - Repealed, 1998, 474, Sec. 8