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| Revocation of Fiduciary Powers | 150.560 – 150.570 | |||||||
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76 FR 49003, Aug. 9, 2011, unless otherwise noted.
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Subscribe to: 12 CFR Part 150 Subpart D - Revocation of Fiduciary Powers
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The Code of Federal Regulations (CFR) is the official legal print publication containing the codification of the general and permanent rules published in the Federal Register by the departments and agencies of the Federal Government. The Electronic Code of Federal Regulations (eCFR) is a continuously updated online version of the CFR. It is not an official legal edition of the CFR.
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The OCC may revoke your fiduciary powers if it determines that you have done any of the following:
(a) Exercised those fiduciary powers unlawfully or unsoundly.
(b) Failed to exercise those fiduciary powers for five consecutive years.
(c) Otherwise failed to follow the requirements of this part.
The procedures for revocation of fiduciary powers are set forth in 12 U.S.C. 1464(n)(10). The OCC will conduct the hearing required under 12 U.S.C. 1464(n)(10)(B) under part 19 of this chapter.
[76 FR 49003, Aug. 9, 2011, as amended at 88 FR 89908, Dec. 28, 2023]