---
kind: "section"
citation: "12 C.F.R. § 9.3"
title: "12"
number: "9.3"
heading: "Approval requirements."
url: "https://uscodex.org/cfr/12/9.3"
---

# §9.3. Approval requirements.

- (a) A national bank may not exercise fiduciary powers unless it obtains prior approval from the OCC to the extent required under [12 CFR 5.26](/cfr/12/5.26.md).
- (b) A national bank that has obtained the OCC s approval to exercise fiduciary powers is not required to obtain the OCC s prior approval to engage in any of the activities specified in [§ 9.7(d)](/cfr/12/9.7.md?p=d) in a new state or to conduct, in a new state, activities that are ancillary to its fiduciary business. Instead, the national bank must follow the notice procedures prescribed by [12 CFR 5.26(e)](/cfr/12/5.26.md?p=e).
- (c) A person seeking approval to organize a special-purpose national bank limited to fiduciary powers shall file an application with the OCC pursuant to [12 CFR 5.20](/cfr/12/5.20.md).

## Notes

### Amendments

[61 FR 68554, Dec. 30, 1996, as amended at 66 FR 34798, July 2, 2001]

### Authority

Authority: 12 U.S.C. 24 (Seventh), 92a, and 93a; 15 U.S.C. 78q, 78q-1, and 78w.

### Source

Source: 61 FR 68554, Dec. 30, 1996, unless otherwise noted.

### Amendments

[61 FR 68554, Dec. 30, 1996, as amended at 66 FR 34798, July 2, 2001]