Retained Reserves. The Trustees may retain from the earnings of the Trust such amount as they may deem necessary to pay the debts and expenses of the Trust and to meet other obligations of the Trust, and the Trustees shall also have the power to establish such reasonable reserves from earnings as they believe may be required to protect the Trust and the Participants against contingent liabilities.
Appears in 3 contracts
Samples: Trust Agreement, Interlocal Agreement, Trust Agreement
Retained Reserves. The Trustees may retain from the earnings gross income of the Trust such amount as they may deem necessary to pay the debts and expenses of the Trust and to meet other obligations of the Trust, and the Trustees shall also have the power to establish such reasonable reserves from earnings as they believe may be required to protect the Trust and the Participants against contingent liabilitiesrequired.
Appears in 1 contract
Samples: Joint Powers Agreement (Iowa Public Agency Investment Trust)
