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 ?
Notwithstanding the various permutations of trusteeship proposed in recent scholarship, (9) the general debate over international governance of sovereign territory has largely focused on the risks of failing to employ trusteeship, but has neglected to weigh these against the potential risks inherent to trusteeship itself.
This Article argues that the net result of these two effects will be that the U.N.'s role in achieving peace and stability in war-torn and failing states through trusteeship will be circumscribed if the problem of authority creep is not remedied, or at least managed.
Prospective trustees should assess whether and what an attorney should review in the trust document before accepting a trusteeship. It may not be possible to change the document, but a trust specialist should examine it thoroughly.
* Any member of the firm considering a trusteeship should complete a client screening process, with second-partner review if possible.
The potential impact of the Trusteeship Agreement in changing the course of history of the Israeli-Palestinian conflict cannot be underestimated.
In its most basic outlines, the Trusteeship Agreement would have instituted a secular and democratic model of government in all the geographic area of former mandate Palestine.
Yet, in a haphazard way, a modern trusteeship model has emerged.
The UN's tentative trusteeship in Cambodia was followed by a more robust version in the Balkans.
NEA may establish a trusteeship at the recommendation of two-thirds of the NEA Executive Committee (Bylaw 8-12.a and b) and subject to approval by two-thirds of the Board of Directors for the purpose of "(i) correcting corruption or financial malpractice or (ii) restoring democratic procedures." Bylaw 8-12.h allows a state affiliate to appeal to the Representative Assembly a decision by the Board of Directors to establish a trusteeship or a refusal by the Board to terminate a trusteeship.
According to those activists, Jacobson's unwillingness to be identified with the larger teamster reform movement led him to move too slowly in organizing members into a political force capable of defeating the group that is aggressively campaigning for an end to the trusteeship.
Though these gains seemed impressive, the Trusteeship Council soon discovered that the figures were deceptive, since students received limited instruction.(6)
One of the most important contributions of Bain's history is his ability to connect the concept of trusteeship to a range of philosophical and theological ideas.