Investments definition
Examples of Investments in a sentence
If the Sponsor has not caused the Custodian to process proxy voting of Fund Shares in Mutual Funds that are Eligible Investments, the Designated Beneficiary shall be the beneficial owner of such Fund Shares held in the Custodial Account, and the Custodian shall not vote any such Fund Shares except upon written direction of the Responsible Individual.
In such event, the Custodian shall liquidate all Investments in the Custodial Account and transfer the cash liquidation proceeds to the successor custodian in accordance with standard industry practices, including the receipt of all appropriate signed documentation, and otherwise as reasonably directed by the Responsible Individual.
However, the Custodian may retain a portion of the Investments in the Custodial Account as a reserve for payment of any anticipated remaining fees and expenses, and shall pay over any remainder of this reserve to the successor custodian or trustee upon satisfaction of such fees and expenses.
The Custodian will process proxy voting of Fund Shares in Mutual Funds that are Eligible Investments in accordance with the Custodian’s written agreement with each Sponsor.
No part of the Custodial Account funds may be invested in life insurance contracts, nor may the Investments in the Custodial Account be commingled with other property except in a common trust fund or a common investment fund (within the meaning of Code Section 530(b) (1)(D)).