Sec. 1. (a) A corporate fiduciary has the power to purchase, hold, and convey real estate as necessary for the convenient transaction of its business.
(b) Real property that may be purchased or held for the convenient transaction of the business of a corporate fiduciary includes the following:
(1) Real property on which the principal office or a trust office of the corporate fiduciary is located.
(2) Real property that is the location of facilities supporting the operations of the corporate fiduciary.
(3) Real property that the board of directors expects, in good faith, to use as an office or a facility in the future.
As added by P.L.262-1995, SEC.90.
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