12 CFR 150.390
§ 150.390 May my officer or employee retain compensation for acting as a co-fiduciary?
United States · 12 CFR — Banks and Banking · Status: effective
Cite this
- Citation
- 12 CFR 150.390, § 150.390 May my officer or employee retain compensation for acting as a co-fiduciary?, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/43741
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Full text
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.
Legislative history
This is a federal regulation, adopted through agency rulemaking under the Administrative Procedure Act — not enacted by a recorded vote of Congress.