Section 150.130 - How may I conduct multi-state operations?(a)Conducting fiduciary activities in more than one state. You may conduct fiduciary activities in any state, subject to the application and notice requirements in § 5.26 of this chapter.(b)Serving customers in more than one state. When you conduct fiduciary activities in a state: (1) You may market your fiduciary services to, and act as a fiduciary for, customers located in any state, may act as a fiduciary for relationships that include property located in other states, and may act as a testamentary trustee for a testator located in other states.(2) You may establish or utilize an office in any state to perform activities that are ancillary to your fiduciary business. 76 FR 49003 , Aug. 9, 2011, as amended at 80 FR 28480 , May 18, 2015