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Electronic Code of Federal Regulations

e-CFR data is current as of January 23, 2020

Title 12Chapter IPart 150Subpart D → Subject Group


Title 12: Banks and Banking
PART 150—FIDUCIARY POWERS OF FEDERAL SAVINGS ASSOCIATIONS
Subpart D—Terminating Fiduciary Activities Receivership or Liquidation


Surrender of Fiduciary Powers

§150.530   How do I surrender fiduciary powers?

If you want to surrender your fiduciary powers, you must file a certified copy of a resolution of your board of directors evidencing that intent. You must file the resolution with the appropriate OCC licensing office.

§150.540   When will the OCC terminate my fiduciary powers?

If, after appropriate investigation, the OCC is satisfied that you have been discharged from all fiduciary duties, the appropriate OCC licensing office will issue a written notice indicating that you are no longer authorized to exercise fiduciary powers.

§150.550   May I recover my deposit from state authorities?

Upon issuance of the OCC written notice under §150.540, you may recover any securities deposited with state authorities, or a Federal Home Loan Bank, under subpart C of this part.

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