17 Hoosier Banker April 2015 This information is provided for general education purposes and is not intended to be legal advice. Please consult legal counsel for specific guidance as to how this information applies to your institution’s circumstances or situation. to exercise the powers of the trustee; and 7. The manner of taking title to trust property.5 This information should be sufficient for the bank to conclude if the trustee has the power necessary to pledge property of the trust to secure a loan6 and may be relied upon by the bank, as long as the bank does not have knowledge that the representations in the certification of trust are incorrect.7 If the certification of trust does not contain the information enumerated above or, if based upon such information, you are unable to conclude that the trustee has sufficient powers for the proposed transaction, you should consult with the bank’s counsel prior to demanding a copy of the trust. t 2015 BSA / AML Compliance School June 2 & 3, 2015 IBA Center for Professional Development 1 ind. Code § 30-4-4-5(a) (“A trustee may furnish to a person other than a beneficiary a certification of trust instead of a copy of the trust instrument.”). 2 § 30-4-4-5(e). 3 § 30-4-4-5(h). 4 § 30-4-4-5(c). 5 § 30-4-4-5(a)(1) to (7). 6 See § 30-4-3-3(a)(24). 7 § 30-4-4-5(f). Carrier selection is one of the most critical decisions in a BOLI purchase. Not all BOLI providers offer carriers with the top AAA rating. Executive Benefits Network offers its clients the most highly rated BOLI carriers in the industry; delivering the long-term benefits and financial strength our clients expect. Now that is Knowledge You Can Bank On.™ We Peel Back the Layers So Our Clients Can Fully Uncover BOLI. ©2014 EBN BOLI & Deferred Compensation Experts 800.780.4EBN ebn-design.com
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