Code of Federal Regulations (Last Updated: November 8, 2024) |
Title 12 - Banks and Banking |
Chapter I - Comptroller of the Currency, Department of the Treasury |
Part 150 - Fiduciary Powers of Federal Savings Associations |
Subpart D - Terminating Fiduciary Activities Receivership or Liquidation |
Revocation of Fiduciary Powers |
§ 150.560 - When may the OCC revoke my fiduciary powers?
Latest version.
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§ 150.560 When may the OCC revoke my fiduciary powers?
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.