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<section article="gfi" article_name="Financial Institutions" number="3-512" title_number="3" title_name="Banking Institutions -- Commercial Banks" subtitle_number="5" subtitle_name="Common Trust Funds">
  <level label="a">
    <text>Except as otherwise provided in this section, a trust company may not:</text>
    <level label="1">
      <text>Invest its own funds in a common trust fund that it administers; or</text>
    </level>
    <level label="2">
      <text>Have any interest, other than its fiduciary interest, in the assets in a common trust fund that it administers.</text>
    </level>
  </level>
  <level label="b">
    <text>If, because of a creditor relationship or otherwise, a trust company acquires an interest in a participation in a common trust fund that it administers, the participation shall be withdrawn on the next valuation date allowed by the fund plan.</text>
  </level>
  <level label="c">
    <text>A trust company does not have a prohibited interest in the assets of a common trust fund that it administers merely because the trust company owns in its own right any stocks, bonds, or other obligations issued by a person from whom the fund also holds stocks, bonds, or other obligations.</text>
  </level>
</section>
