The Legislature finds as facts and determines that: 1. There exists in this State a need, for the protection of the public interest, to regulate companies which are engaged in the trust company business. 2. Such trust companies should be licensed and regulated in such manner as to promote the public advantage and convenience. 3. It is the purpose of this chapter to bring under public supervision those persons who are engaged in or who desire to engage in the business of a trust company, not in connection with banking business, and to insure that there is established in this State an adequate, efficient and competitive trust company service.
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