Common trust fund definition
Common trust fund means a trust in which the proceeds of more than one funeral contract may be held by the trustee.
Common trust fund means a fund maintained by a bank or trust company exclusively for the collective investment and reinvestment of moneys contributed thereto by that bank or trust company, or by another bank or trust company at least eighty percent of the voting stock of which is owned or controlled by a bank holding company which owns or controls at least eighty percent of the voting stock of the bank or trust company maintaining the common trust fund, in its capacity as a fiduciary or cofiduciary.
Common trust fund means a trust or fund maintained by a bank or trust company exclusively for the collective investment or reinvestment of money contributed to the trust or fund by the bank or trust company, or an affiliated bank or trust company, as a fiduciary, including a trustee of a trust or fund for the primary purpose of paying employee benefits of any kind. [PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).]
More Definitions of Common trust fund
Common trust fund means a fund maintained by a financial institution or 1 or more affiliated financial institutions exclusively for the collective investment and reinvestment of money contributed to the fund by the financial institution or the affiliated financial institutions in its capacity as a fiduciary or cofiduciary.
Common trust fund means a fund maintained by a trust corporation in which moneys belonging to various estates and trusts in its care are combined for the purpose of facilitating investments; (« caisse fiduciaire commune »)
Common trust fund means a fund maintained by a bank or trust company exclusively for the collective investment and reinvestment of moneys contributed thereto by that bank or trust company, or by another bank or trust company at least eighty percent of the voting
Common trust fund currently means a fund maintained by a financial institution, exclusively for the collective investment and reinvestment of money contributed to the fund by the financial institution in its capacity as a fiduciary or cofiduciary and established, maintained, and administered pursuant to the Act. Two or more financial institutions must be treated as one with respect to a fund of which any one of the institutions is trustee or two or more of the institutions are cotrustees. Under the bill, “common trust fund” instead would mean a fund maintained by a financial institution or one or more affiliated financial institutions exclusively for the collective investment and reinvestment of money contributed to the fund by the financial institution or the affiliated financial institutions in its capacity as a fiduciary or cofiduciary.
Common trust fund means a fund main- tained by a bank or trust company exclusively for the collective investment and reinvestment of moneys contributed thereto by the bank or trust company or any affiliate thereof, in the capacity of a fiduciary or co-fiduciary.
Common trust fund means a fund maintained by a bank, which fund is subject to [Internal Revenue Code Section] I.R.C. § 584 and which is free from New Jersey taxation pursuant to N.J.S.A. 17:9A-44.
Common trust fund means a fund maintained by a bank or trust company exclusively for the collective investment and reinvestment of money contributed to the fund by the bank or trust company in its capacity as a trustee, executor, administrator, or guardian, or as a cotrustee, coexecutor, coadministrator, or coguardian.