Fiduciary power definition

Fiduciary power means a management power relating to the administration or management of assets similar to those powers granted to a personal representative in section 3715 and a trustee in sections 7816 and 7817, and granted by law to a fiduciary or conferred upon a fiduciary in a governing instrument.
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Fiduciary power means any power that, when exercised, must be exercised for the benefit of or taking into account the interests of at least one person other than the person holding the power;
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Fiduciary power means a management power relating to the administration or management of assets similar to those powers granted to an independent personal representative in section 334 and a trustee in sections 822 to 829 of the revised probate code, Act No. 642 of the Public Acts of 1978, being sections 700.334 and 700.822 to 700.829 of the Michigan Compiled Laws, and granted by law to a fiduciary or conferred upon a fiduciary in a governing instrument.
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Examples of Fiduciary power in a sentence

  • Fiduciary power may be limited to purely nondiscretionary ministerial tasks, or it may entail authorization to make discretionary judgments.

  • Fiduciary power, and by extension the fiduciary relationship, thus enables one person to act purposively on behalf of another.56The classic fiduciary duties are those of loyalty and care.


More Definitions of Fiduciary power

Fiduciary power means the Interim Fiduciary Power or the Final Fiduciary Power, as then applicable.
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Fiduciary power means a management power relating to the administration or management of
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Fiduciary power means a power that, when exercised, must be exercised for the benefit of or taking into account the interests of at least one person other than the person who holds the power and in the case of a purpose or charitable trust, to advance the purposes of such trust;
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Related to Fiduciary power

  • Fiduciary has the meaning set forth in ERISA Section 3(21).

  • Bail-in Power means any statutory cancellation, write-down and/or conversion power existing from time to time under any laws, regulations, rules or requirements relating to the resolution of banks, banking group companies, credit institutions and/or investment firms, including but not limited to any such laws, regulations, rules or requirements that are implemented, adopted or enacted within the context of a European Union directive or regulation of the European Parliament and of the Council establishing a framework for the recovery and resolution of credit institutions and investment firms, or any other applicable laws or regulations, as amended, or otherwise, pursuant to which obligations of a bank, banking group company, credit institution or investment firm or any of its affiliates can be reduced, cancelled and/or converted into shares or other securities or obligations of the obligor or any other person.

  • Bail-in Powers means any Write-down and Conversion Powers as defined in the EU Bail-in Legislation Schedule, in relation to the relevant Bail-in Legislation.

  • Fiduciary Account means an account in which the lawyer deposits fiduciary property.

  • UK Bail-in Power means the powers under the UK Bail-in Legislation to cancel, transfer or dilute shares issued by a person that is a bank or investment firm or affiliate of a bank or investment firm, to cancel, write-down, transfer, reduce, modify or change the form of a liability of such a person or any contract or instrument under which that liability arises, to convert all or part of that liability into shares, securities or obligations of that person or any other person, to provide that any such contract or instrument is to have effect as if a right had been exercised under it or to suspend any obligation in respect of that liability.

  • UK Bail-in Powers means the powers under the UK Bail-In Legislation to cancel, transfer or dilute shares issued by a person that is a bank or investment firm or affiliate of a bank or investment firm, to cancel, reduce, modify or change the form of a liability of such a person or any contract or instrument under which that liability arises, to convert all or part of that liability into shares, securities or obligations of that person or any other person, to provide that any such contract or instrument is to have effect as if a right had been exercised under it or to suspend any obligation in respect of that liability.

  • net power means the power obtained on a test bench at the end of the crankshaft or its equivalent at the corresponding engine speed with the auxiliaries and equipment listed in Table 1 of Annex 4 to this Regulation, determined under reference atmospheric conditions;

  • Wilmington Trust means Wilmington Trust, National Association.

  • Plan Fiduciary As defined in Section 5.3(o).

  • Non-bank fiduciary or agent means a fiduciary or agent other than (a) a bank, as defined in Section 3(a)(2) of the Securities Act, or (b) a savings and loan association, as defined in Section 3(a)(5)(A) of the Securities Act.

  • Station Power means energy used for operating the electric equipment on the site of a generation facility located in the PJM Region or for the heating, lighting, air-conditioning and office equipment needs of buildings on the site of such a generation facility that are used in the operation, maintenance, or repair of the facility. Station Power does not include any energy (i) used to power synchronous condensers; (ii) used for pumping at a pumped storage facility; (iii) used in association with restoration or black start service; or (iv) that is Direct Charging Energy.

  • Powers means all of the general and specific powers of the authority as provided in this chapter which shall be broadly and liberally interpreted to authorize the authority to act in accordance with the goals of the authority and in a manner consistent with the legislative findings and guiding principles.

  • Successor Delaware Trustee has the meaning set forth in Section 4.5(e).

  • Family relationship means a relationship between a person and another person within the third degree by consanguinity or the second degree by affinity, as those terms are defined by Subchapter B, Chapter 573, Texas Government Code.

  • Trustee Acts means both the Trustee Xxx 0000 and the Trustee Xxx 0000 of England and Wales.

  • Co-Venturer means any other entity with whom the Company or an Affiliate of Company is or may be from time to time a Party to a joint operating agreement or unitisation agreement or similar agreement relating to the operations for which the Work is being performed or otherwise for whose benefit the Work are being performed and the successors in interest of such Co-Venturer or the assignees of any interest of such Co-Venturer.

  • Named Fiduciary means the Fiduciary or Fiduciaries named herein or in the Adoption Agreement who jointly or severally have the authority to control and manage the operation and administration of the Plan.

  • Solar Power means power generated from the Solar Photovoltaic Power Project;

  • Trustee Agreement means the trustee agreement entered into on or before the First Issue Date, between the Issuer and the Trustee, or any replacement trustee agreement entered into after the First Issue Date between the Issuer and a trustee, regarding, inter alia, the remuneration payable to the Trustee or a replacement trustee.

  • Successor personal representative means a personal representative, other than a special administrator, who is appointed to succeed a previously appointed personal representative.

  • Company Related Parties means, collectively, the Company and the Company Subsidiaries and any of their respective former, current or future stockholders, managers, members, directors, officers, employees, agents, advisors, other representatives or successors or assignees of any of the foregoing.

  • Conservator means a person who is appointed by a court to manage the estate of a protected person.

  • Parent-subsidiary relationship means a relationship that exists when one corporation directly or indirectly owns shares possessing more than 50 percent of the voting power of another corporation.

  • Other Common means any other Capital Stock of the Issuer of any class which shall be authorized at any time after the date of this Warrant (other than Common Stock) and which shall have the right to participate in the distribution of earnings and assets of the Issuer without limitation as to amount.

  • B-BBEE Act means the Broad-Based Black Economic Empowerment Act, 2003;

  • Company Related Party means the Company and its Subsidiaries and any of their respective former, current and future officers, employees, directors, partners, shareholders, management members or Affiliates (excluding any Parent Related Party).