It is unlawful for any person to carry on or conduct in this state a trust company business, or to advertise or hold oneself out as being engaged in or doing a trust company business or to use the word trust or words trust company in connection with a business unless such person has complied with the provisions of this article 109 or other laws of this state specifically authorizing a fiduciary or trust business. A person who violates this section commits a class 2 misdemeanor.

Source: L. 2003: Entire article added with relocations, p. 1193, § 3, effective July 1. L. 2021: Entire section amended, (SB 21-271), ch. 462, p. 3153, § 132, effective March 1, 2022. L. 2024: Entire section amended, (HB 24-1351), ch. 461, p. 3207, § 34, effective August 7.

Editor's note: This section is similar to former § 11-23-119 as it existed prior to 2003.

Cross references: For the penalty for a class 2 misdemeanor, see § 18-1.3-501.