Examples of trustee in a Sentence
They were named as trustees to the child's estate.
the museum's board of trustees
Recent Examples of trustee from the Web
Oak Lawn Village President Sandra Bury and Alsip Village President John D. Ryan, along with trustees from both municipalities, were on hand for Thursday's ceremony.
Matacic is running for re-election as a trustee in November and could not be reached Thursday for comment.
The Bannon-less White House Bannon’s Firing, the Latest Episode in Trump’s Reality Show Bannon Fired from the White House — David L. Bahnsen is a National Review Institute trustee who runs a bi-coastal wealth management firm.
The board of trustees met today at 4 p.m. to discuss pending litigation and went into executive session about one minute after calling the meeting to order.
The trustee says its beneficiaries include about 400 investors that bought the loan, including mutual and pension funds, universities and other large investors.
All library trustees have signed the letter that was expected to be sent to council members late Thursday afternoon, said Julie Rothenfluh, executive director of Naperville Public Library.
An architect representing Adi Mor, owner of the suburban Garden Fresh Market grocery chain, pitched the project to Mundelein trustees during their Monday board meeting to gauge their reactions before investing money on designs.
The audit says some group members, foundation directors and university trustees piggybacked on the deals, personally investing in some companies after the foundation did so – without disclosing it to the foundation board.
These example sentences are selected automatically from various online news sources to reflect current usage of the word 'trustee.' Views expressed in the examples do not represent the opinion of Merriam-Webster or its editors. Send us feedback.
First Known Use of trustee
First Known Use of trustee
Financial Definition of TRUSTEE
What It Is
A trustee holds or manages cash, assets or a property title for a beneficiary. The trustee has a fiduciary duty to act in the best interest of the beneficiary.
Trustees play an important role for businesses and individuals. In many cases, trustees make sure that assets held on behalf of individuals or companies are not misused.
How It Works
Let's assume Company XYZ issues $100 million of bonds. Company XYZ will appoint a trustee, usually a bank, to act on behalf of the bondholders. The trustee maintains lists of the bondholders in addition to receiving and distributing interest payments. The trustee also monitors Company XYZ's compliance with the agreements and communicates with the bondholders when the issuer is not in compliance.
Why It Matters
In our example, the trustee is effectively the go-between for Company XYZ and the bondholders (but its allegiance is to the bondholders), and the trustee receives a fee from Company XYZ for performing this role. The presence of a trustee also gives Company XYZ a single point of contact for the bondholders and eliminates a considerable amount of administrative work for Company XYZ.
As mentioned earlier, the trustee's job is to act in the best interests of the beneficiary. This responsitrusteelity is called fiduciary duty, and the trustee is legally obligated to uphold this duty. If the trustee fails to do so, they could be legally liable for damages.
TRUSTEE Defined for English Language Learners
TRUSTEE Defined for Kids
legal Definition of trustee
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