Section 34

Subject to the provisions of this Act, the liability of every trust company to the person or persons interested in any estate held by the company as executor, administrator, trustee, receiver, liquidator, assignee, guardian, or committee, or in any other official or business capacity is the same as if the estate had been held by a private person in the like capacity, and the powers of the company are the same as those of a private person in the like capacity.