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 ?
The opinion said if lawyers concluded that trust account audits were not allowed, they could maintain a separate trust account for each title insurance company they use, get each client's informed consent if the lawyer or law firm uses one trust account, or get consent from title insurance companies to audit only the funds they insure in a trust account.
Chair Jay Manuel explained to the board that the trust account compliance checkbox on the annual dues form was creating a disparity in prosecuting minor trust account violations.
In a pattern of misconduct: Brannagan engaged in overdrafts of funds, misappropriated client funds for his own benefit, failed to perform the required monthly trust account reconciliations and comparisons, and failed to follow minimum trust accounting procedures.
The case began when two checks from the attorney's law firm trust account were returned for lack of funds, although they were honored when presented the following day.
The most serious accounting violation in a trust account is the commingling of owner and broker/manager funds.
The Company intends to deliver a termination letter to Continental Stock Transfer & Trust Company ("Continental"), the trustee of its trust account, to inform Continental that it will not complete a business combination within the required time frame and instruct Continental to commence liquidation of the trust account as promptly as practicable.
The ultimate goal is providing any member of The Florida Bar who is interested with a trust accounting system that as long as the attorney puts the correct information in the system when making a deposit and the correct information in the system when making a withdrawal, that their trust account will always be in compliance with the technical requirements of Rule 5 of the Rules Regulating The Florida Bar.
Coogan accounts, also known as child performer trust accounts, blocked trust accounts and trust accounts, are required in California, New York, Louisiana and New Mexico.
The liquidators have determined that a Form 20-F for the year ended December 31, 2007 will not be filed for the following reasons: the Company is in the process of liquidation and additional expenses should be minimized to allow for a larger distribution to shareholders and the Company's major asset as of December 31, 2007 was the Trust Account and information with respect thereto has been given to shareholders.
Australia-based TravelManagers, a travel agency network declared that in partnership with travel insurance brokers Gow-Gates, it has developed a new Travel Agent Client Trust Account Fidelity Insurance (TACTAFI) product, which protects consumers funds while they are in the hands of a travel intermediary.
LANCASTER - Disputing whether Antelope Valley Hospital should pay $53,000 to help fund a commission that sets local governmental boundaries, hospital officials are offering to put the money into a trust account until the matter is resolved.
In addition, holders of fewer than 20% of the Company's shares issued in its initial public offering exercised their right to convert shares into a pro rata portion of the proceeds of the Company's initial public offering placed in a trust account.
He established a trust account, '1Source Wholesale Investments Pty Ltd ITF Avior Pre-IPO Trust' (trust account) to which he was the sole signatory, to collect his clients' funds.
The court found that the inmate had waived any property interest he may have had in interest in the trust account, since participation in the statutorily-created trust fund was voluntary.
Arguing no one was likely to come forward to collect interest held in a Los Angeles Superior Court trust account, county officials defended on Tuesday the legality of transferring $10 million to the county's general fund.