trust account

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Related to trust account: trust fund
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  • noun

Synonyms for trust account

a savings account deposited by someone who makes themselves the trustee for a beneficiary and who controls it during their lifetime

References in periodicals archive ?
93 was transferred to the trust account of the DepEd regional office.
The sponsors will have the option, but no obligation, to extend such term two additional times, each by three months, up to 24 May, by depositing an aggregate of USD 402,536 (less interest earned on the funds in the Trust Account available for withdrawal) into the company's trust account, representing USD0.
One measure that Dubai has taken to prevent such schemes is through the enactment of trust account law in 2007.
Sasso and Frazier said there will be an active marketing program, and Frazier said since the average lawyer trust account has approximately $150,000, it will not have that much of an impact on local banks.
When LFC clients bought the bonds, LFC and Lawson "hid the material fact that Lawson was improperly transferring millions of dollars from the trust account to various parties when the borrowers were not able to pay their operating expenses or required interest payments on the bonds," according to FINRA.
The Rules of Professional Conduct require that every lawyer who receives or holds client funds must place those funds in one or more designated trust accounts.
It found that bank statements from January 2013 that Shockley provided as part of the investigation showed a balance in the clients' trust account of nearly $1 million less than bank statements for the same account a month earlier, in December 2012, that Shockley had provided for the mail-in audit that had been done in 2013.
Credit unions were not able to offer the same level of insurance for these accounts as banks; because not all clients of a lawyer were members of the credit union that held the trust account," an NCUA press release said.
They create a trust account to hold the CD and name their three children and a niece as beneficiaries.
Furthermore, under the new guidelines, banks are not allowed to invest trust account funds in any form of investment or deposit scheme; in short, the money must be kept in current accounts.
Badr Al Islami was one of the first institutions to be approved by the Land Department to open Trust Management Account and was also the first institution to open a developer's Trust Account in Dubai.
The court held that deductions taken from checks and money orders that were to be deposited into the prisoner's trust account in order to satisfy court-ordered restitution, did not violate the Takings Clause, where the restitution was duly authorized by state law.
A trust account has been set up at Antelope Valley Bank for funeral expenses for Walter Bolanos, 16, who was killed early Thursday when the Dodge minivan he was driving ran off Avenue H and overturned.
In the past, agents have gotten into trouble by working with a marketing company or managing agency that has prepackaged important services such as the TPA, stop-loss carrier, benefit communication and trust account.
Some trust account regulations were created to govern escrow accounts used in buy-sell transactions rather than property management activities such as rent collection and security deposits.