7-5-8. Segregation of trust assets -- Books and records required -- Examination --
Trust property not subject to claims or debts against trust company.
A trust company exercising the powers to act as an agent or fiduciary under this chapter
shall segregate all assets held in any agency or fiduciary capacity from the general assets of the
company and shall keep a separate set of books and records showing in proper detail all
transactions engaged in under authority of this chapter. These books and records shall be open to
inspection by the commissioner and shall be examined by him or by examiners appointed by him
as provided in Chapter 1 or examined by other appropriate regulating agencies or both. Property
held in an agency or fiduciary capacity by a trust company shall not be subject to claims or debts
against the trust company.
Amended by Chapter 6, 1982 General Session
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Last revised: Thursday, May 28, 2009