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AGO Opinions with Topic: ACT AS TRUSTEE UNDER BOND ISSUES
AGO 1952 No. 433 >  December 9, 1952
RIGHT OF THE PORTLAND TRUST BANK - A FOREIGN CORPORATION, TO HOLD AND CONVEY TITLE TO REAL ESTATE - ACT AS TRUSTEE UNDER BOND ISSUES - AND ENGAGE IN OTHER BANKING AND TRUST ACTIVITIES
RIGHT OF THE PORTLAND TRUST BANK, A FOREIGN CORPORATION, TO HOLD AND CONVEY TITLE TO REAL ESTATE, ACT AS TRUSTEE UNDER BOND ISSUES, AND ENGAGE IN OTHER BANKING AND TRUST ACTIVITIES A foreign bank corporation may not hold title to and convey real estate in this state as trustee nor act as trustee under bond issues in this state.  Its right to engage in banking or trust business is limited to the right to act as executor of an estate in this state and to act as guardian of an estate in this state of a nonresident ward, if the appointment is made by Will.
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