Text
TITLE 12 - BANKS AND BANKING
CHAPTER VII - NATIONAL CREDIT UNION ADMINISTRATION
SUBCHAPTER A - REGULATIONS AFFECTING CREDIT UNIONS
PART 745 - SHARE INSURANCE AND APPENDIX
subpart a - CLARIFICATION AND DEFINITION OF ACCOUNT INSURANCE COVERAGE
745.9 - 1 - Trust accounts.
(a) For purposes of this section, trust refers to an irrevocable trust.
(b) All trust interests (as defined in 745.2(d)(4)), for the same beneficiary, deposited in an account and established pursuant to valid trust agreements created by the same settlor (grantor) shall be added together and insured up to $100,000 in the aggregate, separately from other accounts of the trustee of such trust funds or the settlor or beneficiary of such trust arrangements.
(c) This section applies to trust interests created in Coverdell Education Savings Accounts, formerly Education IRAs, established in connection with section 530 of the Internal Revenue Code (26 U.S.C. 530).
[51 FR 37560, Oct. 23, 1986, as amended at 65 FR 34924, June 1, 2000; 68 FR 75114, Dec. 30, 2003]
Sponsored links
