Related to Custodians:Custodian bank cus·to·di·an (kŭ-stō′dē-ən) n. 1.One that has charge of something; a caretaker:the custodian of a minor child's estate; the custodian of an absentee landlord's property. 2.A janitor:worked nights as custodian of a high school. ...
CustodianAlso found in: Dictionary, Thesaurus, Medical, Legal, Acronyms, Encyclopedia, Wikipedia. Custodian Either (1) a bank, agent, trust company, or other organization responsible for safeguarding financial assets, or (2) the individual who oversees the mutual fund assets of a minor's ...
An account controlled by a custodian rather than the owner of the assets. Custodian accounts are often used for minors or other individuals who are unable or unwilling to handle their own assets. Wall Street Words: An A to Z Guide to Investment Terms for Today's Investor by David L. Scott...
Example of a Custodial Account Lesson Summary Register to view this lesson Are you a student or a teacher? FAQ Who is the legal owner of a custodial account? The legal owner of the custodial account is the beneficiary. The custodian is just an appointed manager of the account until the ben...
A trust company is a legal entity that acts as a fiduciary, agent, or trustee on behalf of a person or business. It is retained for the administration, management, and eventual transfer of assets to a beneficiary or beneficiaries. The trust company serves as a custodian for trusts, estates...
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Custodian’s entitlement to receive the Collateral Custodian Fees shall cease on the earlier to occur of: (a) its removal as Collateral Custodian pursuant to Section 11.05, (b) its resignation as Collateral Custodian pursuant to Section 11.07 of this Agreement or (c) the termination of this ...
Bank Bonds means any Bonds purchased with moneys received under the Letter of Credit in connection with a Liquidity Drawing and held by the Tender Agent, or its agent, in each case, for the account of the Issuing Bank. Series 2021 Bonds means, collectively, the Series 2021A Bonds and the...
2 : a central agency for collecting and giving out information Legal Definition clearinghouse noun clear·ing·house ˈklir-iŋ-ˌhau̇s : an institution that arranges for payment of checks owed by one bank to another More...
The law intends to forestall another bankbailoutlike the one that followed the2008 financial crisis.12 Britain passed a law at the start of 2019 that requires financial institutions to ring-fence their everyday banking activities from their investment arms. Ring-fencing kicks in for banks that ha...