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custodian |
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bailee (custodian) n. a person with whom some article is left, usually pursuant to a contract (called a "contract of bailment"), who is responsible for the safe return of the article to the owner when the contract is fulfilled. These can include banks holding bonds, storage companies where furniture or files are deposited, a parking garage, or a kennel or horse ranch where an animal is boarded. Leaving goods in a sealed rented box like a safe deposit box, is not a bailment, and the holder is not a bailee since he cannot handle or control the goods. (See: bailment, bailor) How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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He added, "By having Albridge Solutions in place, Kovack is able to provide their advisors with a platform which consolidates transaction and position data from multiple product companies and outside clearing custodianships, delivering a proven platform for investment reporting. |
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