12 CFR 150.150
§ 150.150 Who is responsible for the exercise of fiduciary powers?
United States · 12 CFR — Banks and Banking · Status: effective
Cite this
- Citation
- 12 CFR 150.150, § 150.150 Who is responsible for the exercise of fiduciary powers?, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/43718
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Full text
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.
Legislative history
This is a federal regulation, adopted through agency rulemaking under the Administrative Procedure Act — not enacted by a recorded vote of Congress.