12 CFR § 150.150 - Who is responsible for the exercise of fiduciary powers?

---
identifier: "/us/cfr/t12/s150.150"
source: "ecfr"
legal_status: "authoritative_unofficial"
title: "12 CFR § 150.150 - Who is responsible for the exercise of fiduciary powers?"
title_number: 12
title_name: "Banks and Banking"
section_number: "150.150"
section_name: "Who is responsible for the exercise of fiduciary powers?"
chapter_name: "COMPTROLLER OF THE CURRENCY, DEPARTMENT OF THE TREASURY"
part_number: "150"
part_name: "FIDUCIARY POWERS OF FEDERAL SAVINGS ASSOCIATIONS"
positive_law: false
currency: "2026-04-05"
last_updated: "2026-04-05"
format_version: "1.1.0"
generator: "[email protected]"
authority: "12 U.S.C. 1462a, 1463, 1464, 5412(b)(2)(B)."
regulatory_source: "76 FR 49003, Aug. 9, 2011, unless otherwise noted."
cfr_part: "150"
---


# 150.150 Who is responsible for the exercise of fiduciary powers?

The exercise of your fiduciary powers must be managed by or under the direction of your board of directors. In discharging its responsibilities, the board may assign any function related to the exercise of fiduciary powers to any director, officer, employee, or committee of directors, officers, or employees.