DIGEST
The digest printed below was prepared by House Legislative Services. It constitutes no part of the
legislative instrument. The keyword, one-liner, abstract, and digest do not constitute part of the law
or proof or indicia of legislative intent. [R.S. 1:13(B) and 24:177(E)]
HB 737 Original 2020 Regular Session Thomas
Abstract: Changes the definitions of "trust office" and "trust company".
Present law defines "trust office" as an office, other than the principal office, at which a trust
company is licensed by the commissioner to act as a fiduciary.
Proposed law removes the requirement that the "trust office" be licensed to act as a fiduciary by the
commissioner and instead only requires it to be authorized to act as a fiduciary.
Present law defines "trust representative office" as an office of an out-of-state trust company at
which the company has been authorized by the commissioner to engage in a trust business other than
acting as a fiduciary.
Proposed law removes the requirement that the "trust representative office" be authorized by the
commissioner to engage in a trust business, and instead only requires it to be authorized to engage
in a trust business.
(Amends R.S. 6:572(3) and (4))