Any trust institution that maintains a trust office in this state and its affected clients may designate as the state whose laws shall govern any written agreement between the trust institution and its client or any instrument under which the trust institution acts for a client and with respect to the fiduciary investment standards applicable to the agreements, either:

(1) This state;

Terms Used In Tennessee Code 45-2-1017

  • Fiduciary: A trustee, executor, or administrator.
  • State: when applied to the different parts of the United States, includes the District of Columbia and the several territories of the United States. See Tennessee Code 1-3-105
  • Trust institution: means a depository institution, foreign bank, state bank or trust company authorized to act as a fiduciary. See Tennessee Code 45-1-103
  • Trust office: means an office, other than the principal office, at which a trust institution is authorized by the commissioner to act as a fiduciary. See Tennessee Code 45-1-103
  • written: includes printing, typewriting, engraving, lithography, and any other mode of representing words and letters. See Tennessee Code 1-3-105
(2) A state where affected clients reside; or
(3) The state where the trust institution has its principal office.
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