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 |
Compensation, Gifts, and Bequests |
§ 550.390 - May my officer or employee retain compensation for acting as a co-fiduciary?
Latest version.
-
§ 550.390 May my officer or employee retain compensation for acting as a co-fiduciary?
You may not permit your officers or employees to retain any compensation for acting as a co-fiduciary with you in the administration of a fiduciary account, except with the specific approval of your board of directors.