12 CFR § 150.230 - Who must maintain custody or control of assets in a fiduciary account?

---
identifier: "/us/cfr/t12/s150.230"
source: "ecfr"
legal_status: "authoritative_unofficial"
title: "12 CFR § 150.230 - Who must maintain custody or control of assets in a fiduciary account?"
title_number: 12
title_name: "Banks and Banking"
section_number: "150.230"
section_name: "Who must maintain custody or control of assets in a fiduciary account?"
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"
---


# 150.230 Who must maintain custody or control of assets in a fiduciary account?

You must place assets of fiduciary accounts in the joint custody or control of not fewer than two fiduciary officers or employees designated for that purpose by the board of directors.