Chapter LVII: Section 66: That any national bank that has a paid-up capital of at

least fifty thousand dollars, and the surplus required by law, may act as a guardian, administrator, executor, or trustee and in such capacity in any State, by whatever name known, in accordance with the laws of the State or Territory where situated or located, and the reserves required against trust funds shall be as follows:

_First_: Seven per centum thereof shall be deposited with the American Reserve Bank.

_Second_: Six per centum cash shall be carried against all trust funds up to six million dollars and one-half of 1 per centum for each additional five hundred thousand dollars up to ten million dollars, and upon this amount and all additional amounts, 10 per centum in cash shall be carried, but any national bank accepting trust accounts shall keep the same separate and apart from all other accounts in said bank, and shall establish a trust account department; and all such deposits shall be invested in such securities as are prescribed by the laws of the State where such bank is located.