A. An association desiring to exercise fiduciary powers, either through a trust department or through an affiliate, shall file with the Commission an application indicating which trust services it wishes to offer and providing the information necessary to make the determinations required under subsection B.
B. In addition to assessing any other facts or circumstances deemed proper, the Commission, in passing upon an application to exercise trust powers, shall not grant such application unless the Commission finds that:
1. The association’s capital structure is sufficiently strong to support such additional undertaking;
2. The personnel who will direct the proposed trust department have adequate experience and training, and will devote sufficient time to its affairs to ensure compliance with the law and to protect the association against surcharge;
3. The granting of trust powers to the association will be in the public interest; and
4. The association has available legal counsel to advise and pass upon fiduciary matters wherever necessary.