Section 23-51-127 - Engaging in commerce prohibited

Except as otherwise provided by this chapter or rules adopted under this chapter, a state trust company may not invest its funds in trade or commerce by buying, selling, or otherwise dealing in goods or by owning or operating a business not part of the state trust business, except as necessary to fulfil a fiduciary obligation to a client.Amended by Act 2019, No. 315,§ 2584, eff. 7/24/2019.Acts 1997, No. 940, § 27.