§150.150. Who is responsible for the exercise of fiduciary powers?
12 C.F.R. § 150.150
The exercise of your fiduciary powers must be managed by or under the direction of your board of directors. In discharging its responsibilities, the board may assign any function related to the exercise of fiduciary powers to any director, officer, employee, or committee of directors, officers, or employees.
Notes, amendments, and revision history
Authority
Authority: 12 U.S.C. 1462a, 1463, 1464, 5412(b)(2)(B).
Source
Source: 76 FR 49003, Aug. 9, 2011, unless otherwise noted.