Custodial Relationship; Custodian Records. (a) The Custodian shall hold the Investment Property in its capacity as Custodian for the collective benefit of each of the Participants. The Investment Property shall be custodial property of the Custodian and shall not be, or be deemed to be, an asset of the Custodian. Each Participant has an undivided beneficial interest in the Investment Property to the extent of such Participant's balance.
Appears in 3 contracts
Samples: Interlocal Agreement, Interlocal Agreement, Interlocal Agreement
Custodial Relationship; Custodian Records. (a) The Custodian shall hold the Investment Property in its capacity as Custodian custodian for the collective benefit of each of the ParticipantsTrust. The Investment Property shall be custodial property of the Custodian and shall not be, or be deemed to be, an asset of the Custodian. Each Participant has an undivided beneficial interest in the Investment Property to the extent of such Participant's balance’s Balance.
Appears in 2 contracts
Samples: Trust Agreement, Trust Agreement
Custodial Relationship; Custodian Records. (a) The Custodian shall hold the Investment Property in its capacity as Custodian for the collective benefit of each of the Participants. The Investment Property shall be custodial property of the Custodian and shall not be, or be deemed to be, an asset of the Custodian. Each Participant has an undivided beneficial interest in the Investment Property to the extent of such Participant's balanceBalance.
Appears in 1 contract
Samples: Interlocal Agreement
