trust company


trust company

noun

Definition of TRUST COMPANY

:  an incorporated trustee; broadly :  a corporation that functions as a corporate and personal trustee and usually also engages in the normal activities of a commercial bank

First Known Use of TRUST COMPANY

1834

trust company

noun    (Concise Encyclopedia)

Company, often a commercial bank, acting as trustee for individuals and businesses and providing related financial or estate-planning services. Trust services for individuals commonly include the administration of estates, living trusts (trusts that become effective during the lifetimes of their makers, or settlors), and testamentary trusts (trusts originating in a will). Services for businesses include the administration of corporate bond indentures and corporate pension funds. Trust companies may also serve as corporate stock registrars and as paying agents for the distribution of dividends.

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