CFR > Title 12 - Banks and Banking > CHAPTER V—OFFICE OF THRIFT SUPERVISION, DEPARTMENT OF THE TREASURY > PART 550—FIDUCIARY POWERS OF SAVINGS ASSOCIATIONS > SUBPART B—Exercising Fiduciary Powers (§550.130 to §550.480) > 550.390—May my officer or employee retain compensation for acting as a co-fiduciary?

550.390—May my officer or employee retain compensation for acting as a co-fiduciary?

You may not permit your officers or employees to retain any compensation for acting as a co-fiduciary with you in the administration of a fiduciary account, except with the specific approval of your board of directors.