Rule 80-13-1-.07. Review of Fiduciary Accounts

Rule 80-13-1-.07. Review of Fiduciary Accounts

1. (1) Before accepting a fiduciary account, a trust company shall review the prospective account to determine whether it can properly administer the account.
2. (2) Upon the acceptance of a fiduciary account for which a trust company has investment discretion, the trust company shall conduct a prompt review of all assets of the account to evaluate whether they are appropriate for the account.
3. (3) At least once during every calendar year, a trust company shall conduct a review of all assets of each fiduciary account for which the bank has investment discretion to evaluate whether they are appropriate, individually and collectively, for the account.

Authority: O.C.G.A. § 7-1-61.

History. Original Rule entitled "Review of Fiduciary Accounts" adopted. F. June 29, 2017; eff. July 19, 2017.