422 ORGANIZATION AND MANAGEMENT

422 ORGANIZATION AND MANAGEMENT

The provisions of Sec. 412 (except Confirmation of the appointment/designation of trust officer and independent professional) shall govern the organization and management of banks without trust license which are engaged in investment management activities only. The following terms shall, however, be used:

a. Investment management activities, in lieu of trust and other fiduciary business;

b. Investment management accounts, in lieu of trust and other fiduciary accounts;

c. Investment management committee, in lieu of trust committee;

d. Investment management officer, in lieu of trust officer; and

e. Investment management department, in lieu of trust department.