statutory trust

noun

Definition of statutory trust

: a trust created or authorized by statute (as for the care of animals or for the beneficiary of an action for wrongfully causing a person's death or for the social security trust funds)

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Cite this Entry

“Statutory trust.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/statutory%20trust. Accessed 3 Dec. 2021.

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