Deposit Trust Account definition

Deposit Trust Account means an Account establishing a trust. There are no trust assets other than the funds on deposit in the Deposit Trust Account. The Account can be set up by one or more trustees as Account Holder(s) for one or more beneficiaries. The designation "TTEE" on the Account shall mean "trustee." The Account Holders named as trustees to the Account own the Account in proportion to their net contributions to the Account. No Deposit Trust Account shall be opened without a beneficiary designated on the application and no beneficiary shall have any rights regarding the Account, except as described in this paragraph. If more than one Account Holder is named as trustee on the Account, Bank shall act on the signature of any one of them, regardless of whether any other Account Holder named on the Account as trustee is incapacitated or deceased. Upon the death or evidence satisfactory to Bank of incapacity of all Account Holders named as trustee on the Account, Bank shall pay the Account by joint check to the beneficiaries. Bank shall not accept responsibility to act as a trustee or successor trustee under any circumstances. Bank shall have no duty to monitor the Account or the status of the trustee(s) or beneficiary(ies). D. "Fiduciary Account" means an account established by a trustee/guardian pursuant to a written trust agreement or court order, which shall include Grant of Probate or Letters of Administration. The Account can be set up by one or more trustees/guardians as Account Holder(s) for one or more beneficiaries.
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Deposit Trust Account means an Account establishing a trust. There are no trust assets other than the funds on deposit in the Deposit Trust Account. The Account can be set up by one or more trustees as Account Holder(s) for one or more beneficiaries. The designation "TTEE" on the Account shall mean "trustee." The Account Holders named as trustees to the Account own the Account in proportion to their net contributions to the Account. No Deposit Trust Account shall be opened without a beneficiary designated on the application and no beneficiary shall have any rights regarding the Account, except as described in this paragraph. If more than
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Deposit Trust Account means, for any Deposit Trust, the deposit account established and maintained for such Deposit Trust pursuant to the related Deposit Trust Agreement.
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Examples of Deposit Trust Account in a sentence

  • Broker shall maintain a separate Security Deposit Trust Account for security and other deposits.

  • The Agent will hold all security deposit funds in the Security Deposit Trust Account.

  • Broker shall maintain a separate Security Deposit Trust Account for 15 security deposits, cleaning, pet, and key and other deposits.

  • Company shall maintain a separate Security Deposit Trust Account for security deposits.

  • Operator shall establish a separate bank account for tenant security deposits at a bank designated by Operator (the "Security Deposit Trust Account") into which such security deposits shall be deposited.

  • The designated broker for Operator shall be an authorized signer on the Trust Account, the Security Deposit Trust Account, and the Reserve Account.

  • Manager has established a Trust Account in compliance with Nevada law known as its Security Deposit Trust Account, which is separate and apart from Manager’s corporate accounts, and separate from its Operating Account.

  • Such Trust Account(s) may hold deposits of multiple 30 tenants Broker shall collect a security deposit and deposit it into the Security Deposit Trust Account and disburse 31 it in accordance with NRS Chapter 118A.

  • Nor shall Manager be required to advance any monies to Owner, to the Security Deposit Trust Account, or to the Operating Account.

  • Broker/Designated Property Manager shall maintain a separate 41 Security Deposit Trust Account for security and other deposits.


More Definitions of Deposit Trust Account

Deposit Trust Account has the meaning set forth in the Recitals.
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