Regulations last checked for updates: Oct 17, 2024

Title 12 - Banks and Banking last revised: Oct 15, 2024
§ 150.520 - What happens if I am placed in receivership or voluntary liquidation?

If the OCC appoints a conservator or receiver, or if you place yourself in voluntary liquidation, the receiver, conservator, or liquidating agent must promptly close or transfer all fiduciary accounts to a substitute fiduciary, in accordance with OCC instructions and the orders of the court having jurisdiction.

source: 76 FR 49003, Aug. 9, 2011, unless otherwise noted.
cite as: 12 CFR 150.520