Under what condition can a national bank hold its own stock in trust accounts?

A national bank may hold its own stock in trust accounts under specific circumstances, primarily when that stock has been received in kind as a trust asset. This condition ensures that the bank can manage the trust assets effectively without violating any regulations that typically prevent banks from holding their own stock due to potential conflicts of interest. Receiving the stock in kind means that it becomes part of the trust assets, and the bank's role is to manage those assets according to the trust's terms.

In contrast, the other conditions listed do not align with the regulatory framework governing national banks. For instance, while authorization from the trustor or local laws might seem reasonable, they do not inherently provide a basis for a bank to hold its own stock. Similarly, while providing a benefit to the trust and beneficiaries is a noble aim, it is not a sufficient legal reason for a bank to retain its own stock within trust accounts, as this could still create potential conflicts and regulatory concerns.