Trustee powers.

CFR · 2024-01-01 · US · Title 12

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economical home financing; and (b) In the case of applicants, the Bank ceases to act as trustee if the application is withdrawn or rejected.

official document · source cfr-2024 · id 12:§ 1271.11