12 CFR 16.31 - Escrow requirement.

Regulations last checked for updates: May 18, 2024

Title 12 - Banks and Banking last revised: May 14, 2024

View all text of Part 16 [§ 16.1 - § 16.33]

§ 16.31 - Escrow requirement.

The OCC may require that any funds received in connection with an offer or sale of securities be held in an independent escrow account at an unrelated insured depository institution when the use of an escrow account is in the best interests of shareholders.

authority: 12 U.S.C. 1

source: 59 FR 54798, Nov. 2, 1994, unless otherwise noted.

cite as: 12 CFR 16.31