12 C.F.R. § 550.490   When must I deposit securities with State authorities?


Title 12 - Banks and Banking


Title 12: Banks and Banking
PART 550—FIDUCIARY POWERS OF SAVINGS ASSOCIATIONS
Subpart C—Depositing Securities With State Authorities

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§ 550.490   When must I deposit securities with State authorities?

You must deposit securities with a State's authorities or, if applicable, a Federal Home Loan Bank under §550.510, if you meet all of the following:

(a) You are located in the State.

(b) You act as a private or court-appointed trustee.

(c) The law of the State requires corporations acting in a fiduciary capacity to deposit securities with State authorities for the protection of private or court trusts.

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