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 ?
These trustees all want to see Wheeling continue to grow.
The underlying question in Eresian raises issues pertaining to potential conflicts between the trustee's various duties.
It acknowledged that, while it may have been good customer service to do so, BNY Mellon did not, as a directed trustee, have a responsibility under ERISA to educate plaintiffs about how to prepare investment instructions or advise plaintiffs on an unsolicited basis as to how best to implement its intentions.
ARE GOOD FINANCIAL MANAGEMENT SKILLS IMPORTANT IN A TRUSTEE? They are important skills, but you don't have to be an accountant.
The report says that when a staff member complained about the conduct of the chief executive, he did not follow the charity's policy that any complaint against the chief executive should be immediately referred to trustees for consideration.
Our observation is that courts pay special deference to the trustee's decisions.
Usually, before taking any action a trustee will contact the non-bankrupt partner and ask whether they want to purchase the trustee's interest in the house.
An ystanbul court placed the holding under administrative receivership earlier this week, and the trustees were granted authorization to dismiss any of the group's 8,056 employees.
GIPF is very appreciative of these appointments, which undoubtedly bring a desired balance of skills to the Board of Trustees.
Section 702 of the Bankruptcy Code, entitled "Election of trustee," provides in relevant part that (i) a trustee may be "elected" during a meeting of creditors held under Section 341, and that (ii) if a trustee is not elected under Section 702, then "the interim trustee shall serve as the trustee in the case"
AN MP has called on community champions to consider becoming charity trustees.