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Code of Federal Regulations (Last Updated: July 5, 2024) |
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Title 12 - Banks and Banking |
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Chapter I - Comptroller of the Currency, Department of the Treasury |
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Part 150 - Fiduciary Powers of Federal Savings Associations |
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Subpart C - Depositing Securities With State Authorities |
§ 150.490 - When must I deposit securities with state authorities?
Latest version.
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§ 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.