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Code of Federal Regulations (Last Updated: May 6, 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

Custody and Control of Assets

§ 550.230 - Who must maintain custody or control of assets in a fiduciary account?

Latest version.

§ 550.230 Who must maintain custody or control of assets in a fiduciary account?

You must place assets of fiduciary accounts in the joint custody or control of not fewer than two fiduciary officers or employees designated for that purpose by the board of directors.

                    
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