Effect on existing banks and trust companies - Registration

of bank or trust-related activities.

A. The certificates, permits and charters of state banks and

trust companies heretofore organized under the laws of the state and

existing before August 31, 1965, shall continue in full force and

effect. All such state banks and trust companies, and, to the

extent applicable, all national banks now or hereafter doing

business in this state, shall from August 31, 1965, be subject to

the provisions and requirements of this Code in every particular as

if organized under this act.

B. Any bank, bank holding company, trust company or business

association not holding a charter of authority to engage in banking

or trust company business in this state shall register with the

Commissioner, on a form provided by the Commissioner and pay a

registration fee in an amount set by rule of the Board, all bank or

trust-related activities conducted in this state by the bank, bank

holding company, trust company, business association, or any

subsidiary or affiliate thereof.

C. Bank or trust-related activities include receiving deposits,

transaction accounts, making loans, issuing debentures or other

evidence of debt, holding funds or other property in trust, acting

in a fiduciary capacity, or conducting in any other manner banking,

or bank or trust-related activities.