Trust accounting definition

Trust accounting means one or more written

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedBook a Demo

Trust accounting means one or more written communications from the trustee with respect to the accounting year that describe: (A) the trust property, liabilities, receipts, and disbursements, including the amount of the trustee's compensation; (B) the value of the trust assets on hand at the close of the accounting period, to the extent feasible; and (C) all other material facts related to the trustee's administration of the trust.

Trust accounting means an accounting that adequately discloses the in- formation required by and that substantially complies with the standards set forth in s. 736.08135.

Examples of Trust accounting in a sentence

• The Trustee shall establish and maintain, as to each REMIC Trust, accounting records in which proceeds of the Mortgage Loans and distributions to Certificateholders shall be recorded and in which a record of fully repaid or liquidated Mortgage Loans shall be kept.

• The Trustee shall establish and maintain, as to the Trust, accounting records in which proceeds of the Mortgage Loans and distributions to Certificateholders shall be recorded and in which a record of fully repaid or liquidated Mortgage Loans shall be kept.

• Assist in developing, reviewing, maintaining, and monitoring the effectiveness of Trust accounting and compliance policies and procedures, including portfolio valuation procedures, expense allocation procedures, and personal trading procedures, and the Trust's Code of Ethics.

• All assets contained in the Trust accounting will be shown at their fair market value as of the end of the Plan Year or as of the date of resignation or removal.

• The Audit Committee shall provide assistance to the Board of ------- Trustees in fulfilling its responsibility to the shareholders relating to Trust accounting, reporting practices of the Trust, and the quality and integrity of the financial reports of the Trust.

• The Audit Committee shall provide assistance to the Board of Trustees in fulfilling its responsibility to the shareholders relating to Trust accounting, reporting practices of the Trust, and the quality and integrity of the financial reports of the Trust.

• USBAM shall provide the Trust with regulatory reporting, Trust accounting and related portfolio accounting services, all necessary office space, equipment, personnel, compensation and facilities (including facilities for shareholders’ and Trustees’ meetings) for handling the affairs of the Portfolio, and such other services as USBAM shall, from time to time, determine to be necessary to perform its obligations under this Agreement.

• As such, Portfolio Compliance testing performed by ALPS is limited by the information contained in the Trust accounting source reports and supplemental data from third-party sources.

• USBAM shall provide the Trust with regulatory reporting, Trust accounting and related portfolio accounting services, all necessary office space, equipment, personnel, compensation and facilities (including facilities for shareholders' and Trustees' meetings) for handling the affairs of the Portfolios, and such other services as USBAM shall, from time to time, determine to be necessary to perform its obligations under this Agreement.

• Assist in developing, reviewing, maintaining, and monitoring the effectiveness of Trust accounting and compliance policies and procedures, including portfolio valuation procedures, expense allocation procedures, and personal trading procedures, and the Trust’s Code of Ethics.

More Definitions of Trust accounting

Trust accounting means one or more written communications from the trustee with respect to the accounting year that describe: (A) the trust property, liabilities, receipts, and disbursements (including the amount of the trustee's compensation), and (B) all other material facts related to the trustee’s administration of the trust. The trust accounting shall identify and value trust assets on hand at the close of the accounting period, to the extent feasible. For each asset or class of assets for which there is no readily available market value, the trustee, in the trustee’s discretion, may determine whether to estimate the value or use a nominal carrying value for such an asset, how to estimate the value of such an asset, and whether and how often to engage a professional appraiser to value such an asset.

Trust accounting means an accounting that adequately discloses the information required by and that substantially complies with the stand- ards set forth in s. 736.08135.