(1) A trust company that desires to withdraw from and discontinue doing trust business shall furnish to the commissioner satisfactory evidence of the trust company's release and discharge from all the obligations and trusts the trust company undertakes. (2) After the trust company provides the evidence required by Subsection (1) to the commissioner, the commissioner shall revoke the trust company's permit to engage in trust business in this state. (3) After the commissioner revokes a trust company's permit in accordance with Subsection (2), the trust company may not: (a) use the word "trust" in the trust company's corporate name or in connection with the trust company's business; or (b) undertake the administration of any trust business. Renumbered and Amended by Chapter 112, 2026 General Session
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