12 CFR 550.150 - Who is responsible for the exercise of fiduciary powers?

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Title 12: Banks and Banking

CHAPTER V: OFFICE OF THRIFT SUPERVISION, DEPARTMENT OF THE TREASURY

PART 550: FIDUCIARY POWERS OF SAVINGS ASSOCIATIONS

Subpart B: Exercising Fiduciary Powers

: Fiduciary Personnel and Facilities

550.150 - Who is responsible for the exercise of fiduciary powers

The exercise of your fiduciary powers must be managed by or under the direction of your board of directors. In discharging its responsibilities, the board may assign any function related to the exercise of fiduciary powers to any director, officer, employee, or committee of directors, officers, or employees.

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