Control Of Plan Assets. The assets of the Trust or evidence of ownership shall be held by the Trustee and/or the Custodian under the terms of the Basic Plan Document #01. If the assets represent amounts transferred from another trustee or custodian under a former plan, the Trustee and/or Custodian named hereunder shall not be responsible for any actions of the prior fiduciary including the propriety of any investment decision made by the prior trustee/custodian under any prior plan. Instead, the Employer shall be responsible for such actions.
Appears in 11 contracts
Samples: Nonstandardized Adoption Agreement (Chicopee Bancorp, Inc.), Nonstandardized Adoption Agreement (Banctrust Financial Group Inc), Prototype Defined Contribution Plan (FNB United Corp.)
Control Of Plan Assets. The assets of the Trust or evidence of ownership shall be held by the Trustee and/or the Custodian under the terms of the Basic Plan Document #01contained herein. If the assets represent amounts transferred from another trustee or custodian under a former plan, the Trustee and/or Custodian named hereunder shall not be responsible for any actions of the prior fiduciary Fiduciary including the propriety of any investment decision made by the prior trustee/custodian trustee or custodian, as applicable, under any prior plan. Instead, the Employer shall be responsible for such actions.
Appears in 9 contracts
Samples: Prototype Defined Contribution Plan (1st Constitution Bancorp), Prototype Defined Contribution Plan (Wellesley Bancorp, Inc.), Prototype Defined Contribution Plan (Savannah Bancorp Inc)
