BANKS AND BANKING; LOAN ASSOCIATIONS; CREDIT UNIONS
TRUST COMPANY ACT
Foreign Trust Companies
(a) The commissioner may examine a foreign trust company's trust offices either on-site or off-site for purposes of confirming the foreign trust company's safety and soundness, including its compliance with applicable laws.
(b) The commissioner may enter into a cooperative or information-sharing agreement with any regulatory authority having jurisdiction with respect to the periodic examination or other supervision of any foreign trust company. In lieu of conducting an examination, the commissioner may accept that agency's or organization's report of examination or investigation.
Source. 2015, 272:16, eff. Oct. 1, 2015.