Fiduciary funds definition

Fiduciary funds means the funds used to account for assets held by a district board of education in a trustee capacity or agency capacity for others and, therefore, cannot be used to support the district board of education’s own programs.
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Fiduciary funds means, (i) in respect of any IPS Funds Transfer Service transaction that will be paid to the recipient thereof in U.S. dollars, the amount of money being transmitted to the recipient thereof and (ii) in respect of any IPS Funds Transfer Service transaction that will be paid to the recipient thereof in a currency other than U.S. dollars, the amount of U.S. dollars necessary to purchase the amount of such other currency being transmitted to the recipient thereof.
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Fiduciary funds means funds received from an independent, outside source in which the school board is acting in an administrative capacity. The school board, superintendent, or any district employee shall not have any right of approval for how the funds are spent or raised, nor shall they have direct financial involvement in the funds, as determined under Governmental Accounting Standards Board Statement No. 84 (GASB 84). The district shall have fiduciary responsibility for these funds, but does not have any control over the funds. "Fiduciary funds" includes an outside, independent scholarship fund in which the district has no authority to decide how the funds are attained or awarded.
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Examples of Fiduciary funds in a sentence

  • The Employer adopts the Fiduciary Funds Section 403(b)(7) Custodial Account Agreement for the benefit of the employee named above.

  • Fiduciary Funds - The consolidated financial statements do not include the assets and liabilities or activities of various fiduciary funds.

  • All contributions made to the Custodial Account shall be used by the Custodian to purchase shares of one or more of the portfolios of the regulated investment company known as the Fiduciary Funds.

  • I adopt the Fiduciary Funds Section 403(b)(7) Custodial Account Agreement and appoint Firstar Trust Company as Custodian.

  • I acknowledge that I have received and read the Prospectus for the Fiduciary Funds.

  • Interest Income on Fiduciary Funds Interest income on fiduciary funds increased 31% in 1995 due to generally higher average short-term interest rates throughout the world.


More Definitions of Fiduciary funds

Fiduciary funds means the funds used to account for assets held by a district board of education in a trustee capacity or agency capacity for others[,] and, therefore, cannot be used to
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Fiduciary funds means funds received from an independent, outside source in which the board is acting in an administrative capacity for funds. The board, superintendent, or any district employee does not have any approval process in how the funds are spent, how the funds are raised, or direct financial involvement of the funds, as determined under Governmental Accounting Standard Board Statement No. 84. The district has fiduciary responsibility for these funds but does not have any control over the funds. This includes an outside, independent scholarship fund with which the district does not have any decisions as to how the funds are attained or awarded.
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Fiduciary funds means all insurance premiums or return premiums, representing premium taxes and fees received by an insurance producer, except that made payable to an insurer, and all funds received for soliciting, negotiating, effecting, procuring, renewing, continuing or binding policies of insurance, and all funds that an insurance producer collects from a policyholder or premium finance company and that are to be paid to an insurance company, its agents, or to the producer’s employer because of the assumption of liability through the issuance of insurance contracts, or that the producer collects from an insurance company or its agents and that is to be paid to a policyholder or claimant under any contract of insurance, shall be held by the insurance producer acting as a fiduciary, separate from other funds”
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Fiduciary funds means all premiums and claims monies paid to or received by the Company from any source which relates to the insurance transactions of any kind relating to clients in connection with the business of the Company.
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Related to Fiduciary funds

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

  • Segregated funds means the amount of benefits that would

  • 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.

  • Designated Bank Account means the relevant bank account designated by each Holder;

  • Disbursement Account means any Deposit Account maintained by Borrower with a financial institution for the purpose of receiving and disbursing the proceeds of Loans made pursuant hereto.

  • Agent Account means such account of the Administrative Agent in New York, New York as is designated in writing from time to time by the Administrative Agent to the Borrower and the Lenders for such purpose.

  • Disbursement Accounts has the meaning ascribed to it in Annex C.

  • Segregate means to separate and withhold from use or sale batches, lots, cannabis, usable cannabis, or cannabis-derived products in order to first determine its suitability for use through testing by an approved laboratory.

  • Separate Account shall have the respective meanings assigned to such terms in Section 3 of ERISA.

  • Counterpart Funds means the local currency generated from the Loan proceeds under the Program and referred to in paragraph 4 of Schedule 4 to this Loan Agreement;

  • Funding Accounts has the meaning assigned to such term in Section 4.01(h).

  • Pension Fund means any person that:

  • Separate Accounts means the accounts which are to be prepared for each

  • Subsidy Funds With respect to any Subsidy Loans, funds contributed by the employer of a Mortgagor in order to reduce the payments required from the Mortgagor for a specified period in specified amounts.

  • Program Funds means all funds that are required to be deposited into the Non-profit School Food Service Account.

  • State funds means any funds appropriated by the North Carolina General Assembly or collected by the State of North Carolina. State funds include federal financial assistance received by the State and transferred or disbursed to non-State entities. Both Federal and State funds maintain their identity as they are disbursed as financial assistance to other organizations.

  • Bank Account means one or more accounts opened, maintained and operated by the Portfolio Manager with any of the Scheduled Commercial Banks in accordance with the agreement entered into with the Client.

  • Administrative fund means that Fund established by Section 6.1 and administered pursuant to Section 6.9.

  • Good Funds means immediately available funds delivered by confirmed wire transfer to an account designated by the Closing Agent.

  • Pre-Funding Account means the account designated as the Pre-Funding Account in, and which is established and maintained pursuant to Section 7.07.

  • Administration Fund means the Administration Fund established by the Fiscal Agent pursuant to Section 4.01 hereof.

  • Controlled Disbursement Account means any account of the Borrowers maintained with the Administrative Agent as a zero balance, cash management account pursuant to and under any agreement between a Borrower and the Administrative Agent, as modified and amended from time to time, and through which all disbursements of a Borrower, any other Loan Party and any designated Subsidiary of a Borrower are made and settled on a daily basis with no uninvested balance remaining overnight.

  • Investment Account As defined in Section 3.12(a).

  • Agency Account means any deposit account opened on the books of a Subcustodian or other banking institution in accordance with Section 7.1.

  • Member Account means the regular account and the variable account.

  • Funds means financial assets and benefits of every kind, including, but not limited to: