A trust company, or a bank that holds a certificate as provided in section 48.37, may exercise the powers and privileges set forth in this section.
The bank or trust company is subject at all times to the orders, judgments, and decrees of a court of record from which it has accepted a trust, appointment, or commission as to the trust. It shall provide to the court itemized and verified accounts, statements, and reports required by law, or as the court orders as to a particular trust. The bank or trust company is subject to the general jurisdiction and authority of the district court of the county of its principal place of business.
Minn. Stat. § 48A.08
1998 c 331 s 21