Self-dealing and conflicts of interest.

CFR · 2024-01-01 · US · Title 12

(a) (2) (i) Exercise rights to purchase additional stock (or securities convertible into additional stock) when offered pro rata to stockholders; and (ii) Purchase fractional shares to complement fractional shares acquired through the exercise of rights or the receipt of a stock dividend resulting in fractional share holdings. (b) (i) The transaction is authorized by applicable law; (ii) Legal counsel advises the bank in writing that the bank has incurred, in its fiduciary capacity, a contingent or potential liability, in which case the bank, upon the sale or transfer of assets, shall reimburse the fiduciary account in cash at the greater of book or market value of the assets; (iii) As provided in § 9.18(b)(8)(iii) for defaulted investments; or (iv) Required in writing by the OCC. (2) (c) (d) (e)

official document · source cfr-2024 · id 12:§ 9.12