trust money means money held in trust on behalf of third parties in a trust contemplated in terms of Section 12 of the Act. Security Deposit Account has the meaning given in Section 5.1. Loss Proceeds Account has the meaning set forth in Section 3.3(a). E-Money means electronic money as...
A General Synod benefit fund that reimburses clergy and lay employees for educational costs is not vulnerable to residential schools litigation, according to legal opinions obtained by the pension committee, which administers the fund.De Santis, SolangeAnglican Journal...
Mobile Money means the electronic money/stock issued by MTN and representing an entitlement to an equivalent amount of cash monies held in Trust Account(s) held in any of the MTN partner banks in respect of the purchase of such electronic value. Sample 1AI Clause Wizard Based on 1 documents...
Unless such provision was explicitly made as a gift or as the natural expression of a close relationship (e.g., parent-child), the acquired property is held in trust for the person who provided the money even though the second party holds the legal title. (This type of trust is ...
Treasury bills and other short-term bills and notes from government agencies (railways and post) were gaining in importance by the 1960s, whereas in 1955 certain nonmarketable securities (the so-called equalization claims, created during the 1948 currency reform) held by the Bundesbank were ...
Earnest money is usually paid by certified check, personal check, or wire transfer into a trust or escrow account held by a real estate brokerage, legal firm, or title company. The funds are held in the account until closing, when they are applied toward the buyer's down payment and closi...
bank - an arrangement of similar objects in a row or in tiers; "he operated a bank of switches" array - an orderly arrangement; "an array of troops in battle order" 5. bank - a supply or stock held in reserve for future use (especially in emergencies) stockpile, reserve, backlog -...
Taxpayer stake in NatWest shrinks again The government, on the other hand, has sold stock and brought its holding of NatWest down to less than 1% of the bank. Taxpayers held a stake of more than 84% in what was at the time Royal Bank of Scotland Group after the global financ...
In another case, theReserve Primary Fund failedin September 2008. The prestigious fund held hundreds of millions in short-term loans to Lehman Brothers and when that investment firm went bankrupt, a wave of panicked selling ensued among Reserve's own investors. The fund's share price dropped ...
If a bank or credit union were to fail and go out of business, you would not lose the money you have in the money market account, up to the insured amount. Note that this is different from funds held in money market mutual funds, which are not federally insured. » Want to know ...