12 C.F.R. PART 550--FIDUCIARY POWERS OF SAVINGS ASSOCIATIONS
TITLE 12--Banks and Banking
CHAPTER V--OFFICE OF THRIFT SUPERVISION, DEPARTMENT OF THE TREASURY
PART 550--FIDUCIARY POWERS OF SAVINGS ASSOCIATIONS
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| What regulations govern the fiduciary operations of savings associations?
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| What are fiduciary powers?
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| What fiduciary capacities does this part cover?
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| When do I have investment discretion?
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| What is a fiduciary account?
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| What other definitions apply to this part?
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Subpart A--OBTAINING FIDUCIARY POWERS
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| Must I obtain OTS approval or file a notice before I exercise fiduciary powers?
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| How do I obtain OTS approval?
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| What information must I include in my application?
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| What factors may the OTS consider in its review of my application?
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| Who will act on my application?
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| What action will the OTS take on my application?
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| How do I file the notice under 550.70(c)?
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Subpart B--EXERCISING FIDUCIARY POWERS
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| How may I conduct multi-state operations?
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| How do I determine which State's laws apply to my operations?
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| To what extent do State laws apply to my fiduciary operations?
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| Must I adopt and follow written policies and procedures in exercising fiduciary powers?
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| Who is responsible for the exercise of fiduciary powers?
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| What personnel and facilities may I use to perform fiduciary services?
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| May my other departments or affiliates use fiduciary personnel and facilities to perform other services?
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| May I perform fiduciary services for, or purchase fiduciary services from, another association or entity?
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| Must fiduciary officers and employees be bonded?
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| Must I review a prospective account before I accept it?
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| Must I conduct another review of an account after I accept it?
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| Are any other account reviews required?
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| Who must maintain custody or control of assets in a fiduciary account?
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| May I hold investments of a fiduciary account off-premises?
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| Must I keep fiduciary assets separate from other assets?
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| How may I invest funds of a fiduciary account?
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| What must I do with fiduciary funds awaiting investment or distribution?
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| Where may I deposit fiduciary funds awaiting investment or distribution?
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| What if the FDIC does not insure the deposits?
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| What is acceptable collateral for uninsured deposits?
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| Are there investments in which I may not invest funds of a fiduciary account?
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| May I exercise rights to purchase additional stock or fractional shares of my stock or obligations or the stock or obligations of my affiliates?
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| May I lend, sell, or transfer assets of a fiduciary account if I have an interest in the transaction?
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| May I make a loan to a fiduciary account that is secured by an interest in the assets of the account?
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| May I sell assets or lend money between fiduciary accounts?
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| May I earn compensation for acting in a fiduciary capacity?
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| May my officer or employee retain compensation for acting as a co-fiduciary?
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| May my fiduciary officer or employee accept a gift or bequest?
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| What records must I keep?
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| How long must I keep these records?
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| Must I keep fiduciary records separate and distinct from other records?
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| When do I have to audit my fiduciary activities?
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| What standards govern the conduct of the audit?
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| Who may conduct an audit?
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| Who directs the conduct of the audit?
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| How do I report the results of the audit?
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Subpart C--DEPOSITING SECURITIES WITH STATE AUTHORITIES
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| When must I deposit securities with State authorities?
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| How much must I deposit if I administer fiduciary assets in more than one State?
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| What must I do if State authorities refuse my deposit?
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Subpart D--TERMINATING FIDUCIARY ACTIVITIES
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| What happens if I am placed in receivership or voluntary liquidation?
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| How do I surrender fiduciary powers?
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| When will the OTS terminate my fiduciary powers?
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| May I recover my deposit from State authorities?
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| When may the OTS revoke my fiduciary powers?
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| What procedures govern the revocation?
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Subpart E--ACTIVITIES EXEMPT FROM THIS PART
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| When may I conduct fiduciary activities without obtaining OTS approval?
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| What standards must I observe when acting in exempt fiduciary capacities?
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| How may funds be invested when I act in an exempt fiduciary capacity?
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| What disclosures must I make when acting in exempt fiduciary capacities?
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| May I receive compensation for acting in exempt fiduciary capacities?
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