§ 5-421. Trust agreement

Latest version.

(a) Trustee. -- The corporate trustee under a trust agreement may be a trust company or bank that has the powers of a trust company in or outside the State.

(b) Expense. -- An expense incurred in carrying out the trust agreement or a resolution may be treated as part of the cost of the operation of a project.

HISTORY: An. Code 1957, art. 23A, § 72; 2013, ch. 119, § 2.

                    
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