---
kind: "section"
citation: "12 C.F.R. § 150.400"
title: "12"
number: "150.400"
heading: "May my fiduciary officer or employee accept a gift or bequest?"
url: "https://uscodex.org/cfr/12/150.400"
---

# §150.400. May my fiduciary officer or employee accept a gift or bequest?


You may not permit any fiduciary officer or employee to accept a bequest or gift of fiduciary assets, unless the bequest or gift is directed or made by a relative of the officer or employee or is specifically approved by your board of directors.


## Notes

### Authority

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

### Source

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