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Code of Federal Regulations (Last Updated: May 6, 2024) |
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Title 12 - Banks and Banking |
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Chapter XII - Federal Housing Finance Agency |
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SubChapter D - Federal Home Loan Banks |
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Part 1271 - Miscellaneous Federal Home Loan Bank Operations and Authorities |
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Subpart B - Miscellaneous Bank Authorities |
§ 1271.11 - Trustee powers.
Latest version.
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§ 1271.11 Trustee powers.
A Bank may act, and make reasonable charges for doing so, as trustee of any trust affecting the business of any member or any institution or group applying for membership, if:
(a) Such trust is created or arises for the benefit of the institution or its depositors, investors, or borrowers, or for the promotion of sound and economical home financing; and
(b) In the case of applicants, the Bank ceases to act as trustee if the application is withdrawn or rejected.