Definition of nominate
- He was nominated to the Supreme Court.
- We expect the party to nominate him for president.
- nominate her for player of the year
- He was nominated for an Academy Award.
We expect the party to nominate him for president.
The President nominated her for Attorney General.
Someone has to tell her the truth—I nominate you.
We nominated her for player of the year.
These example sentences are selected automatically from various online news sources to reflect current usage of the word 'nominate.' Views expressed in the examples do not represent the opinion of Merriam-Webster or its editors. Send us feedback.
A nominee is a person or entity that takes possession of securities or other assets for the purpose of making transactions on behalf of the owner of the securities or other assets.
For example, let's say that John Doe owns several positions in about 200 companies in his brokerage account. He has collected these positions over the past 10 years of his investing life, and he's ready to let someone else make the buy and sell decisions every day.
John sets up a nominee account and transfers all of his holdings to that account. In a nominee account, the shares are no longer in John's name, though he is the owner of the assets. This allows the brokerage firm to buy and sell the assets in the account without John's written permission for every trade. John still gets the dividends from the stocks, and he still gets to vote his shares when it's proxy season.
Nominee transactions make transactions happen faster by allowing people or entities to act as agents for other people and thus conduct business in fewer steps.
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