Regulatory Alerts1998-11-17
Conditional Approval for Bank of Western Massachusetts to Act as Foreign Fiduciary in Pennsylvania
The Pennsylvania Department of Banking granted conditional approval to the Bank of Western Massachusetts to serve as a substituted corporate co-trustee in Pennsylvania. This authorization is contingent upon the receipt of an executed agreement appointing the bank and relies on a reciprocity determination between Massachusetts and Pennsylvania laws. The approval is specific to the named trust account and does not constitute blanket permission for fiduciary activities or the establishment of a branch in the state.
Share