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

12 C.F.R. § 150.560

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.

Notes, amendments, and revision history

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

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