12 CFR 150.390 - May my officer or employee retain compensation for acting as a co-fiduciary?

Regulations last checked for updates: May 24, 2025

Title 12 - Banks and Banking last revised: May 21, 2025

View all text of Subpart B [§ 150.130 - § 150.480]

§ 150.390 - 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.

authority: 12 U.S.C. 1462a,1463,1464,5412

source: 76 FR 49003, Aug. 9, 2011, unless otherwise noted.

cite as: 12 CFR 150.390