Bank of New York & Trust Co. v. Tilton

The main question in the case relates to the right of a foreign corporation to be appointed trustee under the provisions of a will naming it for that office. The statute provides as follows:

“Hereafter any trust company, loan and trust company, loan and banking company, and all other corporations of a similar character, incorporated under the laws of this state, and any national bank being duly authorized and located within the state, may be appointed trustee, in any case where an individual can be appointed, upon the same conditions and subject to the same control, requirements and penalties;…