- (a) The ownership of and title to the individual assets in a common trust fund are solely in the trust company, as trustee of the fund.
(b) A trust company shall show clearly on its records:
- (1) The name of each fiduciary account on behalf of which the trust company holds a participation in a common trust fund; and
- (2) The extent of the interest held for that fiduciary account.
Added by Acts 1980, c. 33, § 2, eff. July 1, 1980.
Formerly Art. 11, § 62.