§1271.11. Trustee powers.
12 C.F.R. § 1271.11
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:
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
In the case of applicants, the Bank ceases to act as trustee if the application is withdrawn or rejected.
Notes, amendments, and revision history
Authority
Authority: 12 U.S.C. 1430, 1431, 1432, 1441(b)(8), (c), (j), 1442, 4511(b), 4513(a), 4526.
Source
Source: 78 FR 2324, Jan. 11, 2013, unless otherwise noted.