Fiduciary relationship definition

Fiduciary relationship means a relationship based upon the trust and confidence of the vulnerable adult in the caregiver, relative, household member, or other person entrusted with the use or management of the property or assets of the vulnerable adult. The relationship exists where there is a special confidence reposed in one who in equity and good conscience is bound to act in good faith and with due regard to the interests of the vulnerable adult. For the purposes of this part, a fiduciary relationship may be formed by an informal agreement between the vulnerable adult and the other person and does not require a formal declaration or court order for its existence. A fiduciary relationship includes, but is not limited to, court-appointed or voluntary guardians, trustees, attorneys, or conservators of a vulnerable adult’s assets or property.

Fiduciary relationship generally means a relationship where the appointing authority reposes a special confidence and trust in the integrity and fidelity of an employee to perform duties which could not be delegated to the average employee with knowledge of the proper procedures. These qualifications are over and above the technical competency requirements to perform the duties of the position. Whether one position occupies a fiduciary relationship to another is a question of fact to be determined by the board. (Emphasis added.)

Fiduciary relationship is one in which a person justifiably places confidence in another whose aid, advice, or protection is assumed. Inherent in such fiduciary relationships is an imbalance of power. Educators have a unique responsibility, as the relationship between student and teacher differs from other professional/client relationships (e.g., attorneys and physicians). Educators are entrusted with the safety and welfare of students during and after school hours and serve “in loco parentis” (in place of the parent).

Examples of Fiduciary relationship in a sentence

• Complete records of the receipt, maintenance and disposition of Rule 1.15 Funds and property shall be preserved for a period of five years after termination of the client-lawyer or Fiduciary relationship or after distribution or disposition of the property, whichever is later.

• Complete records of the receipt, maintenance, and disposition of Rule 1.15 Funds and property shall be preserved for a period of five years after termination of the client-lawyer or Fiduciary relationship or after distribution or disposition of the property, whichever is later.

• If you establish an account as a Fiduciary, you will abide by the relevant law and notify us in writing immediately upon an event that terminates the Fiduciary relationship, including but not limited to, the death of the minor or adult for whom you act as a Fiduciary, or at the time the minor attains the age of maturity.

• Fiduciary relationship may arise because of the statute which requires a fiduciary to act selflessly with integrity and fidelity and the other party, that is the beneficiary, depends upon the wisdom and confidence reposed in the fiduciary.

• In order to open an Account, you agree to provide such documentation as is required by the Credit Union with regard to the Fiduciary relationship, including, but not necessarily limited to, Letters of Authority naming you as Conservator, Guardian, Personal Representative, etc.

More Definitions of Fiduciary relationship

Fiduciary relationship or similar special arrangement (neither you nor we intending to create such relationships and expressly disavowing any such or similar relationships) and is only an ordinary commercial relationship between independent businesspersons for their independent economic benefit. We may maintain Marketing Fund assets in one or more accounts designated as "trust accounts" (or similarly designated), for purposes of protecting such assets from claims of third-party creditors or otherwise, but such designation and/or treatment will not operate to create any "trust," "fiduciary relationship" or similar special arrangement as to the Marketing Fund, its assets or otherwise. While we're not required to do so, if we submit any matters with regard to the Marketing Fund or otherwise for approval to any Franchisee Advisory Council and approval is granted by a majority of that council, the approval will be binding on you.

Fiduciary relationship or similar special arrangement as to the Marketing Fund, its assets or otherwise. While we're not required to do so, if we submit any matters with regard to the Marketing Fund or otherwise for approval to any Franchisee Advisory Council and approval is granted by a majority of that council, the approval will be binding on you.

Fiduciary relationship or similar special arrangement as to the Marketing Fund, its assets or otherwise.

Fiduciary relationship means any position with a business, whether or not for- profit, which subjects an Investigator to a fiduciary duty to such business, including but not limited to, service in an Executive Position or as a member of the Board of Directors or other governing body of such business.

Fiduciary relationship or similar special arrangement and is only an ordinary commercial relationship between independent businesspersons for their independent economic benefit. FRANCHISOR may maintain Marketing Fund assets in one or more accounts designated as "trust accounts" (or similarly designated), for purposes of protecting such assets from claims of third-party creditors or otherwise, but such designation and/or treatment will not operate to create any "trust," "fiduciary relationship" or similar special arrangement as to the Marketing Fund, its assets or otherwise.

Fiduciary relationship. MEANS A RELATIONSHIP IN WHICH ONE PERSON

Fiduciary relationship means relationship of confidence and trust b/w parties. Undue influence is considered as subtle species of fraud where mastery is obtained over the mind of victim by insidious approach and sedative artifices3.