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Trust Company |
Also found in: Dictionary/thesaurus, Financial, Encyclopedia, Wikipedia | 0.04 sec. |
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A corporation formed for the purpose of managing property set aside to be used for the benefit of individuals or organizations. The settlor (the individual who creates the trust) names the trust company in order to ascertain that the property will be handled in accordance with his or her wishes as delineated in the terms of the trust. Trust companies sometimes act as fiscal agents for corporations by attending to the registration and transfer of their stocks and bonds, serving as a trustee for their bond and mortgage creditors, and transacting general banking and loan business. |
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? References in periodicals archive |
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These days, family offices typically exist in cyberspace and are run by banks and trust companies such as J. 05, page 12) the first paragraph citing the growth of the profession and the trend toward periodic audits by CPAs noted, "Banks, trust companies and insurance companies have more recently adopted the same plan as a guarantee of security to depositors and policyholders, and the best method of protecting against fraud. While many legitimate reasons do exist for reserves to spike unexpectedly in November and December, most agents do not trust companies. |
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Trust Companies
