1. Regulations
  2. title 12
  3. chapter I
  4. part 150
  5. subpart D
  6. subjgrp 48
  7. § 150.560

View all text of Subjgrp 48 [§ 150.560 - § 150.570]

§ 150.560 - When may the OCC revoke my fiduciary powers?

The OCC may revoke your fiduciary powers if it determines that you have done any of the following:

(a) Exercised those fiduciary powers unlawfully or unsoundly.

(b) Failed to exercise those fiduciary powers for five consecutive years.

(c) Otherwise failed to follow the requirements of this part.

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 150.560