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HB 1098 - Currently, prior to acting in any fiduciary capacity in this state, an out-of-state bank or trust company must file with the Director of the Division of Finance within the Department of Insurance, Financial Institutions and Professional Registration an application for a certificate of reciprocity. This act requires the application to state whether it intends to establish a trust representative office, facility, branch, or other physical location in the state and the activities to be conducted there. The act further specifies that if an out-of-state bank or trust company has established a physical location in the state, it may also be served legal process at the location by service upon any officer, agent, or employee. The definition of "out-of-state bank or trust company" is modified. SCOTT SVAGERA
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