Current with changes from the 2024 Legislative Session
Section 3-517 - Ownership of assets; records(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.