Common use of Trust fund established Clause in Contracts

Trust fund established. Upon the insolvency of any licensee, a trust fund must be established for the benefit of noncredit-sale receiptholders and to pay the costs incurred by the commission in the administration of the insolvency. The trust fund must consist of the following:

Trust fund established. Upon the insolvency of any licensee, a trust fund must be established for the benefit of noncredit-sale receiptholders claimants and to pay the costs incurred by the commission in the administration of the insolvency. The trust fund must consist of the following:

Trust fund established. Upon the insolvency of any licensee, a trust fund must be established for the benefit of noncredit-sale receiptholders and to pay the costs incurred by the commission commissioner in the administration of the insolvency. The trust fund must consist of the following: