Trustee

Agent of a bond issuer who handles the administrative aspects of a loan and ensures that the borrower complies with the terms of the bond indenture.

Trustee

1. The individual or company who manages assets in a trust on behalf of the beneficiary.

2. More generally, any individual or company who manages assets on behalf of another. For example, a bank may hire a trustee to distribute funds from a loan to the borrower.

In both cases, the trustee has a fiduciary responsibility to act on behalf of the beneficiary or client, rather than in his/her own interests.

trustee

An appointed person or institution that manages assets for the benefit of someone else. Trustees are most often trust corporations or trust departments of commercial banks that manage the assets for a fee based on a percentage of the size of the trust (usually under 1%). A trust may be very restrictive or it may allow the trustee wide discretion, depending upon the grantor's wishes.

Wall Street Words: An A to Z Guide to Investment Terms for Today's Investor by David L. Scott. Copyright © 2003 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved. All rights reserved.

Trustee.

A trustee is a person or institution appointed to manage assets for someone else's benefit.

For example, a trustee may be responsible for money you have transferred to a trust, or money in certain retirement accounts.

Trustees are entitled to collect a fee for their work, often a percentage of the value of the amount in trust. In turn, they are responsible for managing the assets in the best interests of the beneficiary of the trust. That's known as fiduciary responsibility.

trustee

see TRUST.

trustee

see TRUST.

Collins Dictionary of Economics, 4th ed. © C. Pass, B. Lowes, L. Davies 2005

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References in periodicals archive

Can J and K be placed under the UN Trusteeship Council for administration?

UN Trusteeship Council: a way out for Kashmir?

(120) This Note will (a) analyze the need for Kiribati and the Maldives to continue existing as deterritorialized nations; (b) discuss why UN Trusteeship is the best option under existing international law for Kiribati and the Maldives; and (c) show that there is international precedent for non-state sovereign actors.

When the Levee Breaks: Climate Change, Rising Seas, and the Loss of Island Nation Statehood

Her brief but suggestive reading of Gandhi as the quintessential economic man who refashioned trusteeship as an idiom of governance in a deeply paternalist mode could profitably be the starting point for a truly revisionist history of twentieth-century Indian nationalism.

Stages of Capital: Law, Culture and Market Governance in Late Colonial India

He said the session "shall also discuss the draft-law on the financial observation, another draft-law on the Trusteeship, along with the law on the Federal Court."

Parliament to discuss law to decrease salaries of leading officials and Parliament Members

Finally, Brenda-Lee Doyle's and Sandra Harrison's paper, "The Mental Health Act and the Adult Guardianship and Trusteeship Act: Working Together to Protect the Rights of Albertans" reviews the recently amended Alberta Adult Guardianship and Trusteeship Act, describes how it works with the new Mental Health Act and highlights some of the ways both Acts protect the rights of Albertans.

Field notes

For the first time this year, Seamount College in Kinvara, Co Galway, decided to take in boys when control of the school moved to the new trusteeship of the Diocese of Galway and Kilmacduagh.

Class time for lucky boy pupils

In 1792, an act passed by the State of New York reorganized this tribe as a trusteeship. Annual tribal elections have taken place from 1792 to the present and its land and resources have been managed consistently for 200 years.

Shinnecock granted recognition

Perhaps the least understood contribution to the post-war world that Hensley brings out well was Fraser's emphasis on trusteeship in colonial territories.

Beyond The Battlefield: New Zealand and its Allies, 1939-45

Chairman of the Trusteeship of the Central Cooperative Bank Demetris Stavrou said the adverse consequences of the global financial crisis were affecting the Cypriot economy and the cooperative movement, and assured that the Bank was implementing policies to overcome the difficulties.

Cyprus Central Cooperative Bank backs calls for lower interest rates

The first body of literature focuses on international trusteeship. This discussion centers on the question of whether (and under what circumstances) outsiders can legitimately take over the reins of government.

Introduction

To maintain Gymkhana's integrity, your trusteeship is being terminated."

Kasab's lawyer to challenge removal from Islamic Gymkhana