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 C - Depositing Securities With State Authorities |
§ 550.490 - When must I deposit securities with State authorities?
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§ 550.490 When must I deposit securities with State authorities?
You must deposit securities with a State's authorities or, if applicable, a Federal Home Loan Bank under § 550.510, if you meet all of the following:
(a) You are located in the State.
(b) You act as a private or court-appointed trustee.
(c) The law of the State requires corporations acting in a fiduciary capacity to deposit securities with State authorities for the protection of private or court trusts.