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<section article="gfi" article_name="Financial Institutions" number="3-515" title_number="3" title_name="Banking Institutions -- Commercial Banks" subtitle_number="5" subtitle_name="Common Trust Funds">
  <level label="a">
    <text>The trust company that establishes a common trust fund has exclusive management and control of the fund, including the sole right to transfer, change, or dispose of the assets in the fund.</text>
  </level>
  <level label="b">
    <level label="1">
      <text>Except as otherwise provided in paragraph (2) of this subsection, a trust company may not:</text>
      <level label="i">
        <text>Charge a fee for the management of a common trust fund; or</text>
      </level>
      <level label="ii">
        <text>Receive from the fund or from any participating account any additional fee, commission, or compensation of any kind because of the participation of the account in the fund.</text>
      </level>
    </level>
    <level label="2">
      <text>A trust company may reimburse itself, from a common trust fund that it administers, for:</text>
      <level label="i">
        <text>Those reasonable expenses incurred in the administration of the fund that could have been charged to a separate fiduciary account if that account were not participating in the fund; and</text>
      </level>
      <level label="ii">
        <text>Reasonable expenses incurred for audits of the fund by independent certified public accountants or court auditors as permitted or required under the fund plan or as otherwise required by law.</text>
      </level>
    </level>
  </level>
</section>
