Section 23-51-146 - Fiduciary responsibility

The board of a state trust company is responsible for the proper exercise of fiduciary powers by the state trust company and each matter pertinent to the exercise of fiduciary powers, including:(1) The determination of policies;(2) The investment and disposition of property held in a fiduciary capacity; and(3) The direction and review of the actions of each officer, employee, and committee used by the state trust company in the exercise of its fiduciary powers.Acts 1997, No. 940, § 46.