(1) No state trust company shall be organized with capital of less than five hundred thousand dollars ($500,000), or such greater amount as may be required by the commissioner after considering the factors in this section.
(2) The commissioner may at any time prescribe a capital structure for a state trust company that the commissioner deems adequate for it to operate in a safe and sound manner. The commissioner shall consider the following factors in determining an adequate capital structure: The nature and type of business conducted or to be conducted;
(3) The nature and liquidity of assets currently held or to be held in the state trust company's own account;
(4) The amount of fiduciary assets currently or projected to be under management or administration;
(5) The type of fiduciary assets currently held or proposed to be held, and the depository of such assets;
(6) The complexity of fiduciary duties and degree of discretion proposed currently or to be undertaken;
(7) The competence and experience of current or proposed management;
(8) The extent and adequacy of internal controls;
(9) The reasonableness of any business plan for retaining or acquiring additional equity capital;
(10) The existence and adequacy of insurance for protecting the state trust company's fiduciary assets; and
(11) Any other factors the commissioner may deem relevant.