Code of Federal Regulations (Last Updated: July 5, 2024) |
Title 12 - Banks and Banking |
Chapter V - Office of Thrift Supervision, Department of the Treasury |
Part 550 - Fiduciary Powers of Savings Associations |
Subpart B - Exercising Fiduciary Powers |
§ 550.130 - How may I conduct multi-state operations?
Latest version.
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§ 550.130 How may I conduct multi-state operations?
(a) Conducting fiduciary activities in more than one State. You may conduct fiduciary activities in any State, subject to the application and notice requirements in subpart A of this part.
(b) Serving customers in more than one State. When you conduct fiduciary activities in a State:
(1) You may market your fiduciary services to, and act as a fiduciary for, customers located in any State, may act as a fiduciary for relationships that include property located in other States, and may act as a testamentary trustee for a testator located in other States.
(2) You may establish or utilize an office in any State to perform activities that are ancillary to your fiduciary business.
[67 FR 76299, Dec. 12, 2002]