Examples of Statutory trust in a sentence
State-Subdivision Agreement, Allocation Statute, and Statutory Trust Fund Provisions.
For the avoidance of doubt, an Allocation Statute or Statutory Trust need not address all three (3) sub-funds that comprise the Settlement Fund, and if the applicable Allocation Statute or Statutory Trust does not address distribution of all or some of these three (3) sub-funds, the applicable Allocation Statute or Statutory Trust does not replace the default provisions in subsection VIII.E.4 of any such unaddressed fund.
Unless we receive your written instruction to the contrary, we shall treat receipt of payment from you and of any claim payment and/or refund of premium which fall due to you, as being with your informed consent to the payment of those monies into the Non- Statutory Trust bank account.
Any Base Payments and Incentive Payments allocated pursuant to subsection VII.E to a Later Participating or Non-Participating Subdivision or a Later Participating or Non- Participating Special District that cannot be paid pursuant to Section IX, will be allocated to the Abatement Accounts Fund for the Settling State in which the Subdivision is located, unless those payments are redirected elsewhere by a State-Subdivision Agreement or by a Statutory Trust.
For example, a Statutory Trust might only address disbursements from a Settling State’s Abatement Accounts Fund.