GroundRules
12 CFR 1271.11: Trustee powers.
Where this section sits in the code
- Title 12—Banks and Banking
- CHAPTER XII—FEDERAL HOUSING FINANCE AGENCY
- SUBCHAPTER D—FEDERAL HOME LOAN BANKS
- PART 1271—MISCELLANEOUS FEDERAL HOME LOAN BANK OPERATIONS AND AUTHORITIES
- Subpart B—Miscellaneous Bank Authorities
A Bank may act, and make reasonable charges for doing so, as trustee of any trust affecting the business of any member or any institution or group applying for membership, if:
(a) Such trust is created or arises for the benefit of the institution or its depositors, investors, or borrowers, or for the promotion of sound and economical home financing; and
(b) In the case of applicants, the Bank ceases to act as trustee if the application is withdrawn or rejected.
Collected 2026-08-27T02:24:16Z. Source file · JSON