New Jersey § 17:9a-36

§ 17:9a-36.

As used in this article, and except as the context otherwise requires, (1) “ Common trust fund ” means a fund established and maintained by a bank or any of its affiliate banks exclusively for the collective investment and reinvestment of moneys contributed

thereto by the bank or any of its affiliate banks in any fiduciary capacity specified

in paragraphs (5), (6), (9) and (10) of section 28; 1 (2) “ Bank ” means a qualified bank which is empowered to invest moneys entrusted to it in any

capacity specified in paragraphs (5), (6), (9) and (10) of section 28; (3) “ Cofiduciary ” means one or more individuals or corporations, or both, lawfully acting or entitled

to act jointly with a bank in the exercise of the powers referred to in the next preceding

paragraph; (4) “ Trust instrument ” means the will, deed, agreement, court order or other instrument pursuant to which

money or other property is entrusted to a bank as sole fiduciary or jointly with a

cofiduciary; (5) “Trust estate” means money or other property entrusted to a bank solely or jointly

with a cofiduciary pursuant to a trust instrument; (6) “ Participation ” means the undivided share in a common trust fund which accrues to a trust estate

as the result of a bank's investment of funds of such trust estate in such common

trust fund; (7) “ Affiliate banks ” means banks, including out-of-State banks, at least 90% of whose issued and outstanding

stock is owned by the same in-State or out-of-State corporation; (8) “ Out-of-State bank ” means a corporation organized as a bank under the laws of a state other than New

Jersey or a national banking association having its principal office outside of New

Jersey. 1

N.J.S.A. § 17:9A-28.