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fiscal agent |
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Fiscal Agent An organization, such as a bank or trust company, that takes responsibility for the fiscal duties of an unrelated party. Notes: These fiscal responsibilities generally include the disbursement of interest and maturity payments on bonds, dividend payouts, and certain tax issues related to corporate securities.
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Generally, the appointment as fiscal agent has been taken to confer authority to act for, or in place of, the federal government in matters relating to public revenues, public debt, and other financial business. An ISO may act directly as the fiscal agent for a consumer. in El Segundo said June 11 it has signed a $149 million contract with the New York State Department of Social Services to act as fiscal agent for the state's Medicaid program. |
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