12 CFR 1271.11
§ 1271.11 Trustee powers.
United States · 12 CFR — Banks and Banking · Status: effective
Cite this
- Citation
- 12 CFR 1271.11, § 1271.11 Trustee powers, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/50838
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Full text
A Bank may act, and make reasonable charges for doing so, as trustee of any trust affecting the business of any member or any institution or group applying for membership, if:
(a) Such trust is created or arises for the benefit of the institution or its depositors, investors, or borrowers, or for the promotion of sound and economical home financing; and
(b) In the case of applicants, the Bank ceases to act as trustee if the application is withdrawn or rejected.
Legislative history
This is a federal regulation, adopted through agency rulemaking under the Administrative Procedure Act — not enacted by a recorded vote of Congress.