12 CFR 150.400
§ 150.400 May my fiduciary officer or employee accept a gift or bequest?
United States · 12 CFR — Banks and Banking · Status: effective
Cite this
- Citation
- 12 CFR 150.400, § 150.400 May my fiduciary officer or employee accept a gift or bequest?, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/43742
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Full text
You may not permit any fiduciary officer or employee to accept a bequest or gift of fiduciary assets, unless the bequest or gift is directed or made by a relative of the officer or employee or is specifically approved by 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.