Property custodian definition

Property custodian means the chief procurement officer, or the head of any state governmental unit that is not by law under the control of a chief procurement officer, the head of the department, or the head of any board, commission, agency, bureau, or office of the State or any person designated by that officer or head, who is responsible for the accountability of all state property in their possession, custody, control, or use.
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Property custodian means any person, officer or employee of a department, agency, board, commission, educational institution or any other branch of State, county, municipal or other local government who is charged with the responsibility of care, custody and control of public property.
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Property custodian or “person in charge” means any employee, agent, or person who is in control of or responsible for the maintenance, operation, and protection of any state property.
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Examples of Property custodian in a sentence

  • Party B shall be solely responsible for the following fees and expenses charged from the 31st day after the receipt of the notice about Property conveyance: • All fees and expenses accrued to the Property (including but not limited to property management fees, public maintenance fees and apportioned water and electricity expenses, etc.); • Property custodian fees paid to Party A which is about 0.02% of the Property Price; • Party B is solely responsible for the risk liabilities of Property.


More Definitions of Property custodian

Property custodian means any person, officer, employee, department, agency, board, commission, or business with the responsibility of care, custody, and control of the property.
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Related to Property custodian

  • Bankruptcy Custodian means any receiver, trustee, assignee, liquidator or similar official under any Bankruptcy Law.

  • Sub-Custodian means and include (i) any branch of a “U.S. bank,” as that term is defined in Rule 17f-5 under the 1940 Act, and (ii) any “Eligible Foreign Custodian” having a contract with the Custodian which the Custodian has determined will provide reasonable care of assets of the Fund based on the standards specified in Section 3.3 below. Such contract shall be in writing and shall include provisions that provide: (i) for indemnification or insurance arrangements (or any combination of the foregoing) such that the Fund will be adequately protected against the risk of loss of assets held in accordance with such contract; (ii) that the Foreign Securities will not be subject to any right, charge, security interest, lien or claim of any kind in favor of the Sub-Custodian or its creditors except a claim of payment for their safe custody or administration, in the case of cash deposits, liens or rights in favor of creditors of the Sub-Custodian arising under bankruptcy, insolvency, or similar laws; (iii) that beneficial ownership for the Foreign Securities will be freely transferable without the payment of money or value other than for safe custody or administration; (iv) that adequate records will be maintained identifying the assets as belonging to the Fund or as being held by a third party for the benefit of the Fund; (v) that the Fund’s independent public accountants will be given access to those records or confirmation of the contents of those records; and (vi) that the Fund will receive periodic reports with respect to the safekeeping of the Fund’s assets, including, but not limited to, notification of any transfer to or from a Fund's account or a third party account containing assets held for the benefit of the Fund. Such contract may contain, in lieu of any or all of the provisions specified in (i)-(vi) above, such other provisions that the Custodian determines will provide, in their entirety, the same or a greater level of care and protection for Fund assets as the specified provisions.