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.