General Banking Law of 2000 GBL R.A. 879

GENERAL BANKING LAW OF 2000 GBL
R.A. 8791
The purpose of general banking law is to promote and maintain a stable and efficient banking and
financial system that is globally competitive, dynamic and responsive to the demands of a
developing. General Banking Law scope of Application primarily governs universal banks and
commercial banks. It suppletory governs thrift banks, rural banks and other banking institutions.
LT: Section 1. General Provisions
LA: An act providing for the regulation of an organization and operations of banks, quasi-banks, trust
entities and for other purposes
LS: University of the Philippines, College of Law, Bar Operations 2008, Commercial law pdf, page 275
LT: Section 2. Declaration of Policy
LA: The State recognizes:

A. the vital role of banks in providing an environment conducive to the sustained
development of the national economy and
B. the fiduciary nature of banking that requires high standards of integrity and performance.
"Banks" shall refer to entities engaged in

1. The lending of funds
2. Obtained in the form of deposits. (Sub Section 3.1)
LT: SECTION 3. Definition and Classification of Banks
LA: “Banks" shall refer to entities engaged in:
1. The lending of funds

2. Obtained in the form of deposits. (Sub Section 3.1)
LT: SECTION 4. Supervisory Powers
LA: The operations and activities of banks shall be subject to supervision of the Bangko Sentral.
"Supervision" shall include the following:
1. The issuance of rules of conduct or the establishment of standards of operation for uniform
application to all institutions or functions covered;
2. The conduct of examination to determine compliance with laws and regulations;
3. Overseeing to ascertain that laws and regulations are complied with;
4. Regular investigation (not oftener than once a year) to determine whether an institution is
conducting its business on a safe or sound basis;
5. Inquiring into the solvency and liquidity of the institution; or
6. Enforcing prompt corrective action.
BANKING LAW COMMERCIAL LAW
The BSP shall also have supervision over Quasi Banks, trust entities and other financial institutions which
under special laws are subject to BSP supervision. The BSP shall, when examining a bank, have the
authority to examine an enterprise which is wholly or majority-owned or controlled by the bank.
LT: SECTION 5. Policy Direction; Ratios, Ceilings and Limitations
LA: The BSP shall provide policy direction in the areas of money, banking and credit. For this purpose,
the MB may prescribe ratios, ceilings, limitations, or other forms of regulation on the different types of
accounts and practices of banks and QBs which shall, to the extent feasible, conform to
internationally accepted standards, including those of the Bank for International Settlements (BIS).
The Monetary Board may exempt particular categories of transactions from such ratios, ceilings and
limitations, but not limited to exceptional cases or to enable a bank or quasi-bank under
rehabilitation or during a merger or consolidation to continue in business with safety to its creditors,
depositors and the general public.
LT: SECTION 6. Authority to Engage in Banking and Quasi-Banking Functions
LA: An entity authorized by the BSP to perform UB or KB functions shall likewise have the authority to
engage in quasi-banking functions.
LT: SECTION 7. Examination by the Bangko Sentral
LA: The Bangko Sentral can examine a subsidiary only “when examining a bank.” In other words, the
authority there of the Bangko Sentral to examine a subsidiary of a bank only arises in the course of its
examination of such bank. That specific limitation was foremost in the mind of the senate in its
deliberations on Senate Bill No. 1519 on December 6, 1999.
LS: The Philippine General Banking Law (Annotated), Rafael A. Morales, page 24
LT: SECTION 8. Organization
LA: The Monetary Board may authorize the organization of a bank or quasi-bank subject to the
Following conditions:
1. Entity must be a stock corporation and must only issue par value stocks;
2. Its funds must be obtained from the public, which shall mean 20 or more persons; and
3. Minimum capital requirements prescribed by the MB for each category of banks must be
satisfied.
LT: SECTION 9. Issuance of stocks

LA: The SEC confirmed that the Monetary Board has “the power to issue rules and regulations
governing the type of stocks a bank may issue, including the terms thereof, whether preferred shares
can be denominated in dollars.
LT: SECTION 10. Treasury Stocks
LA: No bank shall purchase or acquire shares of its own capital stock or accept its own shares as a
security for a loan, except when authorized by the MB: Provided, that in every case the stock so
purchased or acquired shall, within 6 months from the time of its purchase or acquisition, be sold or
disposed of at a public or private sale.
LT: SECTION 11. Foreign Stockholdings
LA: The percentage of foreign-owned voting stocks in a bank shall be determined by the citizenship
of the individual stockholders in that bank. The citizenship of the corporation which is a stockholder in
a bank shall follow the citizenship of the controlling stockholders of the corporation, irrespective of
the place of incorporation.
LT: SECTION 12. Stockholdings of Family Groups or Related Interests
LA: Stockholdings of individuals related to each other within the fourth degree of consanguinity or
affinity, legitimate or common-law, shall be considered family groups or related interests and must be
fully disclosed in all transactions by such an individual with the bank.
LT: SECTION 13. Corporate Stockholdings
LA: Two or more corporations owned or controlled by the same family group or same group of
persons shall be considered related interests and must be fully disclosed in all transactions by such
corporations or related groups of persons with the bank.
LT: SECTION 14. Certificate of Authority to Register
LA: The SEC shall not register the articles of incorporation or the by-laws of any bank, or any
amendment thereto, unless accompanied by a certificate of authority issued by the MB, under its
seal. Such certificate shall not be issued unless the MB is satisfied from the evidence submitted to it
that:
1. All requirements of existing laws and regulations to engage in the business for which the
applicant is proposed to be incorporated have been complied with;
2. The public interest and economic conditions, both general and local, justify the
authorization; and
3. The amount of capital, the financing, organization, direction and administration, as well as
the integrity and responsibility of the organizers and administrators reasonably assure the
safety of deposits and the public interest.
LT: SECTION 15. Board of Directors
LA: Requiring a bank to have a board of directors with 5 to 15 members is reflective of Section 14 of
the Corporation Code. Reserving at least two seats for independent directors is what the corporation
code does not presently provide.
LT: SECTION 16. Fit and Proper Rule
LA: Pursuant to the Corporation Code, every director must own at least one share of the capital stock
of the corporation of which he is a director. Moreover, he will not be qualify as a director or an officer
of the Corporation, if he was convicted by final judgment of an offense punishable by imprisonment
for a period exceeding 6 years or violation of the Corporation Code committed within 5 years prior to
the date of his election or appointment.
LT: SECTION 17. Directors of Merged or Consolidated Banks
LA: The idea of having a larger than usual board of directors in order to facilitate bank mergers or
consolidations could be traced to Presidential Decree No. 117 (1972). In turn, this decree was issued
in response to Recommendation 55 of the Joint IMF-CBP Banking Survey Commission.
LT: SECTION 18. Compensation and Other Benefits of Directors and Officers
LA: The Monetary Board is granted the option to regulate the compensation and other benefits of
directors and officers “only in exceptional cases and when the circumstances warrant.” However,
the exceptional cases and warranted circumstances mentioned in Subsections 18.1 to 18.3 already
spell serious trouble for the bank, and may prove too late an occasion for such any regulations.
LT: SECTION 19. Prohibition on Public Officials
LA: As a rule, an appointive or elective public official cannot be an officer of any private bank. This is
a restatement of the rule under Section 13 of the General Banking Act, which implemented
Recommendation 56 of the Joint IMF-CBP Banking Survey Commission.
LT: SECTION 20. Bank Branches
LA: Under Section 20, universal and commercial banks may open a branches or offices here and
abroad, with prior Bangko Sentral approval. However, the total number of branches that a Philippine
branch of a foreign bank can establish cannot exceed six (Section 4(ii), Act Liberalizing the Entry of
Foreign Banks).
LT: SECTION 21. Banking Days and Hours
LA: Banks are supposed to conduct business for at least six hours per working day in a five-day
banking week, from Monday to Friday, except any such day is a holiday.
LT: SECTION 22. Strikes and Lockouts
LA: If unsettled after seven (7) calendar days, Bangko Sentral reports to the Secretary of Labor who
has two options:
(1) Assumption jurisdiction
(2) Certify to NLRC for compulsory arbitration
The President of the Philippines may, at any time, intervene and assume jurisdiction over such labor
dispute in order to settle or terminate the same.
LT: SECTION 23. Powers of a Universal Bank
LA: Universal Banks (UB) are banks that have the authority to exercise, in addition to the powers
authorized for a commercial bank, the powers of an investment house and the power to invest in
non-allied enterprises.
LT: SECTION 26. Equity Investments of a Universal Bank in Non-Financial Allied Enterprises
LA: The requirement for Monetary Board approval comports with Basel Core Principle 5, which enjoins
banking supervisors to review major acquisitions or investments by banks.
LT: SECTION 27. Equity Investments of a Universal Bank in Non-Allied Enterprises
LA: THE EQUITY INVESTMENT OF A UNIVERSAL BANK OR OF IT’S WHOLLY OR MAJORITY-OWNED

SUBSIDIARIES, IN A SINGLE NON-ALLIED ENTERPRISE:
1. Shall not exceed 35% of the total equity in that enterprise nor
2. Shall it exceed 35% of the voting stock in that enterprise
LT: SECTION 28. Equity Investments in Quasi-Banks
LA: TO PROMOTE COMPETITIVE CONDITIONS IN FINANCIAL MARKETS, THE MB MAY FURTHER LIMIT TO
40% EQUITY INVESTMENTS OF UBS AND CBS IN QBS.
LT: SECTION 29. Powers of a Commercial Bank
LA: Sections 29 to 53 of the General Banking Law enumerate these other activities which can all be
conducted by a Universal Bank (UB). What is more, both a UB and a Commercial Bank (KB) can have
equity interests in allied enterprises. UBs can also be stockholders in non-allied enterprises and can
even exercise the powers of an investment house.
LT: SECTION 32. Equity Investments of a Commercial Bank in Non-Financial Allied Enterprises
LA: A UNIVERSAL BANK OR COMMERCIAL BANK MAY OWN UP TO ONE HUNDRED PERCENT (100%) OF
THE EQUITY IN A NON-FINANCIAL ALLIED ENTERPRISE
LT: SECTION 35. Limit on Loans, Credit Accommodations and Guarantees
LA: A. single borrower’s Limit (SBL) Rules

1. The total amount of loans, credit accommodations and guarantees extended by a bank to
any person, partnership, association, corporation or other entity shall at no time exceed 25% of the
net worth of such bank; the basis for determining compliance with the SBL is the total credit
commitment of the bank to the borrower.
Exceptions:
A. as the monetary board may otherwise prescribe for reasons of national interest
B. deposits of rural banks with government- owned or controlled financial institutions like the
LBP, DBP and PNB
2. The total amount of loans, credit accommodations and guarantees prescribed in (a) may
be increased by an additional 10% of the net worth of such bank provided the additional liabilities of
any borrower are adequately secured by trust receipts, shipping documents, warehouse receipts or
other similar documents transferring or securing title covering readily marketable, non- perishable
goods which must be fully covered by insurance.
LT: SECTION 40. Requirement for Grant of Loans or other Credits Accommodations
LA: As a rule, borrowing applicants will be required to state their assets and liabilities, and their
income and expenditures, among other things. Here, their income tax returns, as filed with BIR, will
normally form part of the documents to be submitted in support of the loan application.
LT: SECTION 44. Amortization on Loans and Other Credit Accommodations
LA: Under Section 44, the amortization schedule is to be adapted to the nature of the operations
being financed. Thus, if the borrower comes from the so called microfinance sector, the schedule is
to take into account the projected cash flow of that borrower.
LT: SECTION 46. Development Assistance Incentives
LA: Financing Activities with social content helps to foster national development. Consistent with the
declaration of policy in Section 2, the Bangko Sentral is mandated to provide incentives to banks
making these so called “development loans.”
LT: SECTION 47. Foreclosure of Real Estate Mortgage
LA: A real Estate mortgage may be foreclosed judicially pursuant to Rule 68 of the Rules of Civil
Procedure, or extra judicially pursuant to Act No. 3135, as amended. If the mortgagee is a bank,
however, the said rule or law is supplemented and qualified by Section 47 of the General Banking
Law.
LT: SECTION 48. Renewal or Extension of Loans and other Credit Accommodations
LA: Section 48 speaks of loan extensions or renewal, which may be short of restructuring. As a rule, this
matter is addressed to the sound discretion of the lending bank, but the Monetary Board may
provide guidelines thereof, consistent with Basel Core Principle 7 for effective banking supervision,
which considers as “an essential part of any supervision system – the evaluation of a bank policies,
practices and procedures related to the granting of loans and the ongoing management of the loan
portfolios.
LT: SECTION 49. Provisions for Losses and Write-offs
LA: Section 49 of GBL is based on the old statute’s Section 84, which was the result of
Recommendation 34 of the Joint IMF-CBP Banking Survey Commission. In the Commission, in respect
of the need explicitly to vest in the Monetary Board the power to regulate reserves for doubtful
accounts, as well as loan write-offs.
LT: SECTION 50. Major Investments
LA: To enhance Bangko Sentral supervision of banks, the Monetary Board is mandated to establish
criteria for the review of major acquisitions or investments by a bank. The Monetary Board will also
look into a bank’s corporate affiliations or structures and determine whether they expose such bank
to undue risks, if not hinder effective supervision by the Bangko Sentral.
LT: SECTION 51. Ceiling on Investments in Certain Assets
LA: Under Section 51, a bank is generally permitted to acquire only the real estate necessary for its
own use in the conduct of its business.
LT: SECTION 52. Acquisition of Real Estate by Way of Satisfaction of Claims
LA: Any real property acquired or held under these circumstances shall be disposed of by the bank
within a period of 5 years or as may be prescribed by the MB. The bank may, after said period,
continue to hold the property for its own use, subject to the limitation that the total investment in real
estate and improvements thereof, including bank equipment, shall not exceed 50% of combined
capital accounts.
LT: SECTION 53. Other Banking Services
LA:
1. Receive in custody funds, documents and valuable objects;
2. Act as financial agent and buy and sell, by order of and for the account of their customers, shares,
evidences of indebtedness and all types of securities;
3. Make collections and payments for the account of others and perform such other services for their
customers as are not incompatible with banking business;
4. Upon prior approval of MB, act as managing agent, adviser, consultant or administrator of
investment management/advisory/consultancy accounts; and
5. Rent out safety deposit boxes.
The bank shall perform the services permitted under 1-4 as depositary or as an agent. Accordingly, it
shall keep the funds, securities and other effects which it receives duly separate from the bank's own
assets and liabilities. The MB may regulate all these operations in order to ensure that such operations
do not endanger the interests of the depositors and other creditors of the bank.
LT: SECTION 54. Prohibition to Act as Insurer
LA: Against Acting as an Insurer

A bank shall not directly engage in insurance business as the insurer.
LT: SECTION 55. Prohibited Transactions
LA: Prohibited Transactions of Directors, Officers, Employees, or Agents of Any Bank
1. Making false entries in any bank report or statement or participating in any fraudulent
transaction, thereby affecting the financial interest of, or causing damage to, the bank or any
person;
2. Without order of a court of competent jurisdiction, disclosing to any unauthorized person

any information relative to the funds or properties in the custody of the bank belonging to
private individuals, corporations, or any other entity: Provided, That with respect to bank
deposits, the provisions of existing laws shall prevail;
3. Accepting gifts, fees or commissions or any other form of remuneration in connection with
the approval of a loan or other credit accommodation from said bank;
4. Overvaluing or aiding the overvaluing of any security for the purpose of influencing in any
way the actions of the bank or any bank; or
5. Outsourcing inherent banking functions.
LT: SECTION 56. Conducting Business in an Unsafe or Unsound Manner
LA: It is imperative that banks refrain from conducting business in an unsafe or unsound manner. In
determining whether a particular act or omission of such an institution is unsafe or unsound, the
Monetary Board is mandated to consider whether such act or omission has resulted or may result in
material loss or damage, or abnormal risk or danger to not only (i) the safety, stability, liquidity or
solvency of such institution, but also (ii) its depositors, creditors, investors, or stockholders, as well to
the Bangko Sentral and the public in general.
LT: SECTION 60. Financial Statements

LA: To apprise the Bangko Sentral of their actual financial condition, banks, quasi-banks, and trust
entities are required to submit to the appropriate supervising and examining department of the
Bangko Sentral their financial statements in such form and frequency as may be prescribed by the
Bangko Sentral. The said financial statements must at least show the true financial condition and
result of operations of the institution, as well as its branches, subsidiaries, and affiliates.
LT: SECTION 61. Publication of Financial Statements
LA: The publication must be done at least once every quarter in a newspaper of general circulation
in the city or province where the principal office of the domestic institution is located. If no
newspaper is published in such city or province, then the publication may be made in a newspaper
published in Metro Manila or in the nearest city or province.
LT: SECTION 62. Publication of Capital Stock
LA: The above provision is almost identical to Section 82 of the old law. Section 62 of the GBL
underscores the need to provide the public with a true picture of the financial condition of banks, as
well as quasi-banks and trust entities. This is consistent with Basel Core Principle 21 of the effective
banking supervision.
LT: SECTION 63. Settlement of Disputes
LA: In aid of Bangko Sentral supervision over banks, quasi-banks, and trust entities, section 63 requires
other government agencies and instrumentalities to consult with the Bangko Sentral in connection
with actions or proceedings initiated by or brought before them involving those supervised institutions
and their directors, officers, or stockholders.
LT: SECTION 64. Unauthorized Advertisement or Business Representation
LA: No person, association, or corporation unless duly authorized to engage in the business of a bank,
Quasi Bank, trust entity, or savings and loan association shall advertise or hold itself out as being
engaged in the business of such bank, Quasi Bank, trust entity, or association, or use in connection
with its business title, the word or words "bank", "banking", "banker", "QB ", "quasi-banking", "quasi-
banker", "savings and loan association", "trust corporation", "trust company" or words of similar import
or transact in any manner the business of any such bank, corporation or association.
LT: SECTION 71. Other Banking Laws

LA: For purposes of prescribing the minimum ratio which the net worth of a thrift bank must bear to its
total risk assets, the provisions of Section 33 [should be Sec. 34] of the GBL shall govern. [2] Although
Sec. 71 provides that “Islamic banks shall be governed by special laws.” It does not include Thrift
Banks in the enumeration of Banks to which the GBL has application.
LT: SECTION 72. Transacting Business in the Philippines
LA: The entry of foreign banks in the Phil. through the establishment of branches shall be governed by
the provisions of the Foreign Banks Liberalization Act. The conduct of offshore banking business in the
Phil. shall be governed by PD 1034, the "Offshore Banking System Decree."
LT: SECTION 78. Revocation of License of a Foreign Bank
LA: The Monetary Board can revoke the license of a foreign bank to transact business in this country,
if (i) such bank is insolvent, or (ii) its continuance in business will involve probable loss to those
transacting business with it. In the exercise of this power, the Bangko Sentral must take the necessary
action to protect the creditors of the foreign banks, as well as the public.
LT: SECTION 79. Authority to engage in Trust Business
LA: Before a stock corporation can be a trust entity, it must be authorized by the Monetary Board to
engage in trust and other fiduciary activities. Indeed, the trust entity has come a long way. The
lineage of a trustee, as an incorporated entity, is traceable to the American trust company that was
first chartered to perform trust functions in 1818.
LT: SECTION 80. Conduct of Trust Business
LA: Section 80 of the General Banking Law, which is restatement of Section 56 of the old law, states
the “prudent man rule” and the “rule on self-dealing” in the conduct of trust business. Its rationale
may be gleaned from the explanation of the Joint IMF-CBP Banking Survey Commission in its
Recommendation 70.
LT: SECTION 81. Registration of Articles of Incorporation and By-Laws of a Trust Entity
LA: This provision substantially reiterates the requirement under the second paragraph of Section 17
and the fourth paragraph of Section 46 of the Corporation Code. The Certificate of authority need
not be issued by monetary Board itself under its seal.
LT: SECTION 82. Minimum Capitalization
LA: It is required that the trust entity must have combined capital accounts of not less than
250,000,000 pesos.
LT: SECTION 83. Power of a Trust Entity
LA: In a conduct of its “trust business”, the trust entity enters into a property relationship, wherein legal
title to the property is transferred to it by a trustor for the benefit of one or more beneficiaries, who
may or may not include the trustor.
LT: SECTION 84. Deposit of the Faithful Performance of Trust Duties
LA: A trust entity prior to transacting its business, must deposit with the Bangko Sentral cash or
securities approved by the monetary board and amounting to at least 500,000 pesos, as a security
for the faithful performance of its trust duties.
LT: SECTION 94. Phase Out of Bangko Sentral Powers Over Building and Loan Associations
LA: Within a period of 3 years from the effectively of the GBL, the BSP shall phase out and transfer its
supervising and regulatory powers over building and loan associations to the Home Insurance and
Guaranty Corporation which shall assume the same.
LT: SECTION 95. Repealing Clause
LA: The provisions of the GBL Act and its implementing rules, to the extent inconsistent with the
General Banking Law(GBL), were repealed, save for Sections 39 to 55 of the General Banking Act,
which continue to be in force even after the assumption by the home guaranty corporation of
supervisory and regulatory powers over building and loan associations.
LT: SECTION 96. Separability Clause
LA: It is clear from the structure of the General Banking Law that its different provisions are not
mutually dependent on each other. Accordingly, the separability of those provisions, as
contemplated by section 96, will be upheld by the courts.
LT: SECTION 97. Effectivity Clause
LA: The text of Republic Act No. 8791 was published in Malaya and The Manila Times on May 29, 2000.
Accordingly, following the rule, in Article 13 of the Civil Code, that “in computing a period, the first
day shall be excluded and the last day included, “the General Banking Law took effect on June 13,
2000.”

General Banking Law of 2000 GBL R.A. 879

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General Banking Law of 2000 GBL R.A. 879

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GENERAL BANKING LAW OF 2000 GBL

LT: Section 1. General Provisions

LT: Section 2. Declaration of Policy

LA: The State recognizes:

"Banks" shall refer to entities engaged in

LT: SECTION 3. Definition and Classification of Banks

LA: “Banks" shall refer to entities engaged in:

1. The lending of funds

LT: SECTION 4. Supervisory Powers

LT: SECTION 5. Policy Direction; Ratios, Ceilings and Limitations

LT: SECTION 6. Authority to Engage in Banking and Quasi-Banking Functions

LT: SECTION 7. Examination by the Bangko Sentral

LT: SECTION 8. Organization

LT: SECTION 9. Issuance of stocks

LT: SECTION 10. Treasury Stocks

LT: SECTION 11. Foreign Stockholdings

LT: SECTION 12. Stockholdings of Family Groups or Related Interests

LT: SECTION 13. Corporate Stockholdings

LT: SECTION 14. Certificate of Authority to Register

LT: SECTION 15. Board of Directors

LT: SECTION 16. Fit and Proper Rule

LT: SECTION 17. Directors of Merged or Consolidated Banks

LT: SECTION 20. Bank Branches

LT: SECTION 21. Banking Days and Hours

LT: SECTION 22. Strikes and Lockouts

LT: SECTION 23. Powers of a Universal Bank

LT: SECTION 27. Equity Investments of a Universal Bank in Non-Allied Enterprises

LA: THE EQUITY INVESTMENT OF A UNIVERSAL BANK OR OF IT’S WHOLLY OR MAJORITY-OWNED

LT: SECTION 28. Equity Investments in Quasi-Banks

LT: SECTION 29. Powers of a Commercial Bank

LT: SECTION 35. Limit on Loans, Credit Accommodations and Guarantees

LA: A. single borrower’s Limit (SBL) Rules

LT: SECTION 44. Amortization on Loans and Other Credit Accommodations

LT: SECTION 46. Development Assistance Incentives

LT: SECTION 47. Foreclosure of Real Estate Mortgage

LT: SECTION 49. Provisions for Losses and Write-offs

LT: SECTION 50. Major Investments

LT: SECTION 51. Ceiling on Investments in Certain Assets

LT: SECTION 52. Acquisition of Real Estate by Way of Satisfaction of Claims

LT: SECTION 53. Other Banking Services

LT: SECTION 54. Prohibition to Act as Insurer

LA: Against Acting as an Insurer

LT: SECTION 55. Prohibited Transactions

LA: Prohibited Transactions of Directors, Officers, Employees, or Agents of Any Bank

2. Without order of a court of competent jurisdiction, disclosing to any unauthorized person

5. Outsourcing inherent banking functions.

LT: SECTION 56. Conducting Business in an Unsafe or Unsound Manner

LT: SECTION 60. Financial Statements

LT: SECTION 61. Publication of Financial Statements

LT: SECTION 62. Publication of Capital Stock

LT: SECTION 63. Settlement of Disputes

LT: SECTION 64. Unauthorized Advertisement or Business Representation

LT: SECTION 71. Other Banking Laws

LT: SECTION 72. Transacting Business in the Philippines

LT: SECTION 78. Revocation of License of a Foreign Bank

LT: SECTION 79. Authority to engage in Trust Business

LT: SECTION 80. Conduct of Trust Business

LT: SECTION 82. Minimum Capitalization

LT: SECTION 83. Power of a Trust Entity

LT: SECTION 84. Deposit of the Faithful Performance of Trust Duties

LT: SECTION 95. Repealing Clause

LT: SECTION 96. Separability Clause