12 C.F.R. § 9.6
Review of fiduciary accounts
(a) Pre-acceptance review. Before accepting a fiduciary account, a national bank shall review the prospective account to determine whether it can properly administer the account.
(b) Initial post-acceptance review. Upon the acceptance of a fiduciary account for which a national bank has investment discretion, the bank shall conduct a prompt review of all assets of the account to evaluate whether they are appropriate for the account.
(c) Annual review. At least once during every calendar year, a bank shall conduct a review of all assets of each fiduciary account for which the bank has investment discretion to evaluate whether they are appropriate, individually and collectively, for the account.
Notes of Decisions
Cited in 2
cases (1 in the last 5 years), 1966–2025 · leading case: Charles A. Blaney v. Florida Nat'l Bank at Orlando, 357 F.2d 27 (5th Cir. 1966).
Charles A. Blaney v. Florida Nat'l Bank at Orlando, 357 F.2d 27 (5th Cir. 1966). “, 12 C.F.R. § 9.6 (f) (1968 ed.), and footnote 2 thereto.”
Lane v. Rocket Mortg. LLC (D. Ariz. 2025). “Breach of Contract 8 Plaintiffs assert that Defendant is liable for breach of contract due to its breach of 9 fiduciary duties under 12 C.F.R. § 9.6 (c). (Doc. 18 at 5). This section of the National Bank 10 Act regulates “Fiduciary Activities of National Banks.”
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