53-159. Trust institution may act as fiduciary.
Any trust institution licensed by the Commissioner of Banks, where such powers or privileges are granted it in its charter, may be guardian, trustee, assignee, receiver, executor or administrator or act in another fiduciary capacity in this State without giving any bond; and the clerks of the superior courts, or other officers charged with the duty or clothed with the power of making such appointments, are authorized to appoint such trust institution to any such office. (1945, c. 743, s. 1; 2001-263, s. 3; 2011-339, s. 7.)
Structure North Carolina General Statutes
North Carolina General Statutes
Chapter 53 - Regulation of Financial Services
Article 14 - Trust Institutions Acting in a Fiduciary Capacity.
§ 53-159 - Trust institution may act as fiduciary.
§ 53-159.1 - Power of fiduciary or custodian to deposit securities in a clearing corporation.
§ 53-160 - License to do business.
§ 53-161 - Examination in connection with license as to solvency.
§ 53-163 - Clerk of superior court notified of license and revocation.
§ 53-163.1 - Funds held by a trust institution awaiting investment or distribution.
§ 53-163.2 - Investments in securities by trust institutions.
§ 53-163.3 - Fiduciary funds awaiting investment.
§ 53-163.5 - Establishment of common trust funds.
§ 53-163.6 - Court accountings.
§ 53-163.7 - Supervision by State Banking Commission.