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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)

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References in periodicals archive ?
As a result of the new partnership, local custodians in Taiwan, in conjunction with their global parents, can now turn to ISS to deliver votes directly to the TDCC.
FAQ Question II.4 states that advisors have custody if they have the authority to withdraw client assets from a qualified custodian. The SEC does not consider as a withdrawal the transfer of assets between the client's accounts at qualified custodians "if the client has authorized the advisor in writing to make such transfers and a copy of that authorization is provided to the qualified custodians, specifying the client accounts maintained with qualified custodians."
State securities regulators warned investors participating in self-directed IRAs Monday to brush up on third-party custodians' duties, as fraudsters can deceive them into thinking that a third-party custodian is a trusted intermediary gatekeeper.
* The number of fee-based financial advisor custodians will decline to 35 by 2016 as several more niche players will exit the business;
The PHIPAA is New Brunswick's proposed new health privacy legislation which will govern the manner in which personal health information may be collected, used and disclosed by health information 'custodians', individuals or organizations that act on their behalf and other persons who receive personal health information from custodians or their agents.
AR 380-40 requires that all COMSEC accounts have trained personnel to perform as COMSEC custodians. There are two different types of training for COMSEC material management.
In contrast this transaction would not have been allowed by many self-directed IRA custodians not wanting to deal with investments beyond our borders as expressed in corporate policies.
Ringeman hasn't put a dollar figure on his first year, but the raw numbers shake out nicely: Each custodian covers 21,472 square feet in eight hours--with head custodians responsible for less square feet as the building's grade levels increase.
It aims to empower custodians and their locals to win long-term improvements in
* Like medical savings accounts (MSAs), HSA trustees or custodians do not have to determine if withdrawals are used for medical costs.
81-70 study often requires the cooperation of one or more layers of nominees and custodians interposed between the corporation's transfer agent and the tax beneficial owner of a share of stock.