Trust Companies
Last updated 09/22/2022
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Fees
| License Fee |
Description |
Exemptions |
| $2,500.00 |
|
None
|
Description
A trust company is an organization that acts as a non-depository fiduciary, trustee, or agent for individuals or businesses in the administration of trust funds, estates, custodial arrangements, stock transfer and registration, and other related services.
Duration
On going, dependent upon soundness & fee payment
Renewal Information
None
Duplicate License Requirements
None
Prerequisites and Requirements
Prerequisites
None
Required Documentation
None
Examination Information
None
Continuing Education Requirements
None
Bonding Requirements
Trust size less than $1,000,000, bond, etc. $50,000; $1,000,000 to $1,499,999, then $100,000; For each $500,000 or fraction in excess of $1,500,000 increase an additional $25,000; Not to exceed $1,000,000.
Insurance Requirements
FDIC Deposit Insurance is not required
Statutes, Administrative Rules, Ordinances
Other Detail Information
None
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