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2023 California Code
Probate Code - PROB
DIVISION 9 - TRUST LAW
PART 4 - TRUST ADMINISTRATION
CHAPTER 1 - Duties of Trustees
ARTICLE 1 - Trustee s Duties in General
Section 16015.
Universal Citation:
CA Prob Code § 16015 (2023)
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16015. The provision of services for compensation by a regulated financial institution or its affiliates in the ordinary course of business either to a trust of which it also acts as trustee or to a person dealing with the trust is not a violation of the duty provided in Section 16002 or 16004. For the purposes of this section, “affiliate” means a corporation that directly or indirectly through one or more intermediaries controls, is controlled by, or is under common control with another domestic or foreign corporation.
(Enacted by Stats. 1990, Ch. 79.)
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