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Electronic Code of Federal Regulations

e-CFR data is current as of February 27, 2020

Title 12Chapter IPart 150Subpart C → §150.490


Title 12: Banks and Banking
PART 150—FIDUCIARY POWERS OF FEDERAL SAVINGS ASSOCIATIONS
Subpart C—Depositing Securities With State Authorities


§150.490   When must I deposit securities with state authorities?

You must deposit securities with a state's authorities or, if applicable, a Federal Home Loan Bank under §150.510, if you meet all of the following:

(a) You are located in the state.

(b) You act as a private or court-appointed trustee.

(c) The law of the state requires corporations acting in a fiduciary capacity to deposit securities with state authorities for the protection of private or court trusts.

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