trustee


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Related to trustee: Public trustee

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.

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.
References in periodicals archive ?
States have different laws about which court should have jurisdiction to hear complaints about the Trustee or requests that the Trustee "account" for his, her, or its actions.
Antelope Valley High and two other schools were assigned trustees, who will have authority to overrule administrators' decisions.
Today's hospital board of trustees faces unprecedented challenges in the areas of quality, care delivery, financing, physician relations and information technology.
The trustee of a unitrust may also include capital gain in DNI if he or she has express authority, granted either under local law or the governing immanent, to (1) pay a unitrust amount and (2) deem such distributions as made from capital gain.
Although the unitrust would reclassify some principal as income, the trustee would track trust principal for other purposes, such as making distributions under an ascertainable standard [CPC Sec.
The electorate bought the sell that new trustees would provide great team work and the whole system would get along fine as long as the trustees rubber-stamped the Administration's proposals.
When deciding who will serve as trustee of your trust look for characteristics such as experience, investment skills, competence, impartiality, permanence, administrative skills, personal attention, cooperation, and reputation for performance.
Under the new system, if the trustees find the nominees unacceptable, they may consult with that particular organization and appoint a person of their choosing, as long as the individual's background matches the requirements for that seat.
As a participant, I felt at times that the task force representatives assumed more authority titan they actually had in light of the trustee system of convention agencies.
Although the latter may reflect journalistic exaggeration, the former reflects the very real concern of the state, and theoretically the community-at-large, in the actions of trustees, even trustees at a private university.
The trustee is the citizen representative responsible for providing the best possible library service to the community from which the board is appointed or, in a few communities, elected.
150,000,000 Louisiana Housing Finance Agency Securitized Multi-family Housing Revenue Bonds Series 1986A, trustee, COMMERCIAL