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
Hope Andrade has decided to step down as the chair of the VIA Metropolitan Transit board of trustees.
At the time, a majority of trustees said the need outweighed the risk of delay.
Officials at Philadelphia University-Thomas Jefferson University have requested his resignation from their board of trustees.
In 1976, she was named assistant director, and in 1981, Pratt’s board of trustees named her director.
In 2011 the university’s board of trustees voted 10-2 in favour of admitting women, and in 2017 California’s Supreme Court ruled in the majority’s favour after a legal challenge.
At the plans presented to the Spring ISD board of trustees on Tuesday, the design plans proposed keeping the police department on the first floor of the two-story building.
Vivenzio also shared his hazing accounts with several departments at Penn State in 2014, including the board of trustees, according to the report.
Corker spoke in CSIS’ Exxon Mobil conference room, which displays a plaque commemorating Tillerson’s past leadership of Exxon and on the CSIS board of trustees.
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
Seen and Heard
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