12 CFR 150.490 – When must I deposit securities with state authorities?
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You must deposit securities with a state’s authorities or, if applicable, a Federal Home Loan Bank under § 150.510, if you meet all of the following:
Terms Used In 12 CFR 150.490
- Fiduciary: A trustee, executor, or administrator.
- Trustee: A person or institution holding and administering property in trust.
(a) You are located in the state.
(b) You act as a private or court-appointed trustee.
(c) The law of the state requires corporations acting in a fiduciary capacity to deposit securities with state authorities for the protection of private or court trusts.