1. Regulations
  2. title 12
  3. chapter I
  4. part 150
  5. subpart B
  6. subjgrp 44
  7. § 150.390

View all text of Subjgrp 44 [§ 150.380 - § 150.400]

§ 150.390 - May my officer or employee retain compensation for acting as a co-fiduciary?

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.

AUTHORITY: 12 U.S.C. 1462a, 1463, 1464, 5412(b)(2)(B).

SOURCE: 76 FR 49003, Aug. 9, 2011, unless otherwise noted.

CITE AS: 12 CFR 150.390