trustee

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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 ?
The FAF consists of 16 trustees whose backgrounds represent a broad range of professions and areas of expertise.
A second disagreement arose when the Executive Committee requested that trustees of convention agencies give an opinion on whether funds received from the CBF should continue to be accepted.
Indeed, Veblen would be interested to know that according to Vaughan and Weisman (cited in the Community College Week report), 67% of the community college trustees are professionals and 17% are business owners or managers whereas less than 6% are artists, or sales, services, office and other categories of "worker.
The selection committee is responsible for identifying possible candidates, screening resumes, interviewing candidates and recommending a candidate for selection to the board of trustees of the foundation, which will vote on the candidate.
Rural library trustees have the advantage over their urban colleagues in terms of relationships to the community and local funding authorities.
This notice contains information on circumstances which have changed materially within the last several days and may not be described in prior notices the trustees ("Trustees") of the captioned bond issues ("Similar Issues") have issued.
The Trustees have approved in principle a plan to merge Putnam Tax-Free Health Care Fund (NYSE: PMH) into Putnam Tax Exempt Income Fund, an open-end fund also managed by Putnam Investments.
LANCASTER - The state will require Antelope Valley Union High School District to hire a trustee to oversee Antelope Valley High School for failing to improve standardized test scores.
67(e)(1) exception to the 2% rule, such as trustee or estate fiduciary fees and accounting fees required by state law or the governing trust or estate instrument.
However, a common error for trustees is believing that they "know" what the settlor wants and proceeding to administer the trust based on this belief rather than the purposes stated in the trust.
Election results, appointments and incumbent trustees helped to make up the new Board of Trustees as follows:
Such record notice provides persons who furnish materials or services in reliance on the trust assets receivable by the trustee at later stages of the improvement, notice that those assets have been anticipated for a current expense.