Section 383-C:12-1202 - Qualified Trust Advisor Powers(a) A qualified trust advisor that acts as a trust advisor or trust protector in this state, either by acting in such capacity from an office in this state or by acting in such capacity for a trust administered in this state, is not a bank and shall not be required to obtain a charter as a bank, so long as the qualified trust advisor exercises only limited-scope discretionary power as to each trust the qualified trust advisor serves as trust advisor or trust protector.(b) Except as provided under this article, a qualified trust advisor shall not engage in trust business or banking business. Before engaging in any banking business or trust business that is not permitted under this article, a qualified trust advisor shall obtain a charter as a bank. (c) Nothing in this article shall limit a registered advisor from serving as trust advisor or trust protector in this state.Added by 2015, 272:16, eff. 10/1/2015. 2015, 272:16, eff. Oct. 1, 2015.