Regulations last checked for updates: Feb 12, 2026

Title 12 - Banks and Banking last revised: Dec 01, 2026
§ 150.150 - Who is responsible for the exercise of fiduciary powers?

The exercise of your fiduciary powers must be managed by or under the direction of your board of directors. In discharging its responsibilities, the board may assign any function related to the exercise of fiduciary powers to any director, officer, employee, or committee of directors, officers, or employees.

source: 76 FR 49003, Aug. 9, 2011, unless otherwise noted.
cite as: 12 CFR 150.150