Any fiduciary financial institution is hereby authorized to exercise by its board of directors or duly authorized officers or agents, subject to law, the following powers:

1. (a) To engage in fidfin transactions in accordance with K.S.A. 9-2311, and amendments thereto;
2. (b) to receive, retain and manage alternative asset custody accounts in accordance with K.S.A. 9-2313, and amendments thereto; and
3. (c) to engage in trust business as defined in K.S.A. 9-701, and amendments thereto, as incidental to the activities in subsections (a) and (b).

L. 2021, ch. 80, § 10; L. 2022, ch. 55, § 7; July 1.