You should refer to the following chart to determine if you must obtain OTS approval or file a notice with OTS before you exercise fiduciary powers. This chart does not apply to activities that are exempt under subpart E of this part. ------------------------------------------------------------------------
(a) Fiduciary activities for the first You must obtain prior
time and OTS has not previously approved approval from OTS under
an application that you submitted under Sec. Sec. 550.80 through
this part. 550.120 before you conduct
the activities(b) Fiduciary activities that are You must obtain prior
materially different from the activities approval from OTS under
that OTS has previously approved for you, Sec. Sec. 550.80 through
including fiduciary activities that OTS 550.120 before you conduct
has previously approved for you that you the activities
have not exercised for at least five
years.(c) Fiduciary activities that are not You must file a written
materially different from the activities notice described at Sec.
that OTS has previously approved for you. 550.125 if you commence the
activities in a new State.
You do not need to file a
written notice if you
commence the activities at
a new location in a State
where you already conduct
these activities.(d) Activities that are ancillary to your You do not have to obtain
fiduciary business. prior OTS approval or file
a notice with OTS.------------------------------------------------------------------------ [67 FR 76298, Dec. 12, 2002; 68 FR 2108, Jan. 15, 2003, as amended at 68 FR 75109, Dec. 30, 2003]