FIDUCIARY FOREIGN TRUST COMPANY
The Montana Division of Banking and Financial Institutions (Division) has approved the following fiduciary foreign trust companies to do business in Montana. If you would like to verify their registration status, you can do so through the Montana Secretary of State's website at https://biz.sosmt.gov/search/business.
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Depository Trust Companies |
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Name |
Address |
City |
State |
Zip Code |
Approval Date |
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Comerica Bank |
PO Box 75000 |
Detroit |
MI |
48275 |
03/30/1998 |
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Bravera Wealth, a division of Bravera Bank |
401 North 4th Street, Suite 301 |
Bismarck |
ND |
58501 |
12/11/2013 |
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Prairie Trust, a division of Waukesha State Bank |
151 East Saint Paul Avenue |
Waukesha |
WI |
53188 |
12/05/2024 |
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Nondepository (Nonbank) Trust Companies |
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Name |
Address |
City |
State |
Zip Code |
Approval Date |
|
First Trust Company, LLC |
1919 Hope Court, Suite 200 |
Rapid City |
SD |
57701 |
12/29/2022 |
Application Requirements
Out-of-State State-Chartered or National-Chartered Bank Seeking to Exercise Fiduciary Powers in Montana
- Submit a Fiduciary Foreign Trust Company Application.
- Provide the following issued by the primary regulator:
- that the bank is lawfully chartered;
- that the bank is operating in good standing; and
- that banking or trust corporations or corporations organized under the laws of Montana or national banking associations that maintain their principal offices in Montana are permitted to act as trustees, guardians, or conservators in the state in which the applicant maintains its principal office.
Out-of-State Nonbank Trust Companies Seeking to Exercise Fiduciary Powers in Montana
- Submit a Fiduciary Foreign Trust Company Application.
- Provide the following issued by the primary regulator:
- that the nonbank trust company is lawfully chartered or licensed;
- that the nonbank trust company is in good standing in the chartering or licensing state;
- that the nonbank trust company is well capitalized under the standards that exist in the home state; and
- that banking or trust associations or corporations organized under the laws of Montana or national banking associations that maintain their principal offices in Montana are permitted to act as trustees, guardians, or conservators in the state in which the fiduciary foreign trust company maintains its principal office.
Fee: There is no application fee.
Expiration: The Division's approval remains continuous until the institution ceases to act as a fiduciary foreign trust company.
Consent Letter: If necessary, the Division will provide a consent letter upon approval of the application. This letter must be submitted to the Montana Secretary of State’s office as part of the registration process.
Designation for Service of Process: The fiduciary foreign trust company must appoint the Montana Secretary of State as its attorney for the service of all legal process in any action or proceedings involving any acts or defaults by it as trustee, guardian, or conservator. This is done through the registration process.
Laws and Rules
2.59.2101 - Definitions
2.59.2102 - Out-of-State State-Chartered Bank or National Bank Seeking to Exercise Fiduciary Powers in Montana
2.59.2103 - Out-of-State Nonbank Trust Companies Seeking to Exercise Fiduciary Powers in Montana
32-1-1001, MCA - Definition of foreign trust company
32-1-1002, MCA - Appointment of foreign trust companies
32-1-1003, MCA - Designation of attorney for service of process
32-1-1004, MCA - Service of process
32-1-1005, MCA - Bond
32-1-1006, MCA - Rights and duties
32-1-1007, MCA - Solicitation of business