(a)

1. (1) The investments of each account shall be kept separate from the assets of the bank and shall be placed in the joint custody or control of not less than two (2) of the officers or employees of the bank designated for that purpose by the board of directors of the bank or by one (1) or more officers designated by the board of directors of the bank, and all such officers and employees shall be adequately bonded.
2. (2) To the extent permitted by law, a state bank may permit the investments of a fiduciary account to be deposited elsewhere.

(b) The investments of each account shall be either:

1. (1) Kept separate from those of all other accounts, except as provided in 23 CAR § 320-1401; or
2. (2) Adequately identified as the property of the relevant account.