(NAR) VOL. 5 NO. 1/JANUARY - MARCH 1994
“No director, officer, or employee taking part in the management of trust and other fiduciary accounts shall perform duties in other departments or the audit committee of the financial institution and vice versa. HOWEVER, BRANCH MANAGERS DULY AUTHORIZED BY THE BOARD OF DIRECTORS MAY, FOR OR ON BEHALF OF THE TRUST OFFICER, SIGN PREDRAWN TRUST INSTRUMENTS SUCH AS COMMON TRUST FUNDS.”
“AS AN ALTERNATIVE COMPLIANCE WITH THE REQUIRED PRIOR AUTHORITY AND DISCLOSURE UNDER SUBSECTIONS 409.2 AND 409.3, A LIST WHICH SHALL BE UPDATED QUARTERLY OF PROSPECTIVE AND/OR OUTSTANDING INVESTMENT OUTLETS MAY BE MADE AVAILABLE BY THE TRUSTEE FOR THE REVIEW OF ALL COMMON TRUST FUND CLIENTS.”