12 CFR 150.70 – Must I obtain OCC approval or file a notice before I exercise fiduciary powers?
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Except for fiduciary activities subject solely to subpart E, you should refer to 12 CFR 5.26 to determine if you must obtain OCC approval or file a notice with the OCC before you exercise fiduciary powers. A Federal savings association may not exercise fiduciary powers unless it obtains prior approval from the OCC to the extent required under 12 CFR 5.26.
Terms Used In 12 CFR 150.70
- Fiduciary: A trustee, executor, or administrator.