12 CFR § 9.3 - Approval requirements.

---
identifier: "/us/cfr/t12/s9.3"
source: "ecfr"
legal_status: "authoritative_unofficial"
title: "12 CFR § 9.3 - Approval requirements."
title_number: 12
title_name: "Banks and Banking"
section_number: "9.3"
section_name: "Approval requirements."
chapter_name: "COMPTROLLER OF THE CURRENCY, DEPARTMENT OF THE TREASURY"
part_number: "9"
part_name: "FIDUCIARY ACTIVITIES OF NATIONAL BANKS"
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. 24 (Seventh), 92a, and 93a; 15 U.S.C. 78q, 78q-1, and 78w."
regulatory_source: "61 FR 68554, Dec. 30, 1996, unless otherwise noted."
cfr_part: "9"
---


# 9.3 Approval requirements.

(a) A national bank may not exercise fiduciary powers unless it obtains prior approval from the OCC to the extent required under 12 CFR 5.26.

(b) A national bank that has obtained the OCC s approval to exercise fiduciary powers is not required to obtain the OCC s prior approval to engage in any of the activities specified in § 9.7(d) in a new state or to conduct, in a new state, activities that are ancillary to its fiduciary business. Instead, the national bank must follow the notice procedures prescribed by 12 CFR 5.26(e).

(c) A person seeking approval to organize a special-purpose national bank limited to fiduciary powers shall file an application with the OCC pursuant to 12 CFR 5.20.

[61 FR 68554, Dec. 30, 1996, as amended at 66 FR 34798, July 2, 2001]