Section 9.1

Authority, purpose, and scope

Section 9.2

Definitions 

Section 9.3

Approval requirements

Section 9.4

Administration of Fiduciary Powers

Section 9.5

Policies and Procedures

-buying individual stocks, bonds, and mutual funds

Section 9.6

Review of fiduciary accounts

Section 9.7

Multi-State Fiduciary Operations

Section 9.8

Recordkeeping

Section 9.9

Audit of Fiduciary Activities

Section 9.10

Fiduciary funds awaiting investment or distribution

Section 9.11

Investments of fiduciary funds

Section 9.12

Self-dealing and conflicts of interest

(biggest section-make sure everything is documented)

-a national bank may make a loan between any of its fiduciary accounts if the transaction is fair to both accounts and is NOT prohibited by applicable law. 

Section 9.13

Custody of Fiduciary Assets

-Dual control

Section 9.14

Deposit of securities with state authorities

Section 9.15

Fiduciary Compensation

Section 9.16

Receivership or voluntary liquidation of bank

Section 9.17

Surrender or revocation of fiduciary powers

Section 9.18

Collective investment funds

Uniform Gifts to Minors Act

Common trust, Personal Trust

A fund consisting solely of assets of retirment, pension, profit sharing, stock bonus, or other trusts are exempt from Federal Income Tax

Collective Investment Funds

Short Sales

Selling something you don't own

Common Trust Fund

has a valuation date, NOT a security

Mutual Fund

-establishes a net asset value for a mutual fund

-only can buy once in a day

Exchange Traded Funds

-traders mutual fund

-trade as stock

-you are able to buy & sell constantly 

-find whether they were selling at a premium or a discount

Section 9.20

Transfer Agents