Section 11-54-132 Trust Agreement.
Trustee banks that are parties to a trust agreement must accept custody of contributions and administer the endowment trust fund under the agreement’s terms. If a trustee bank is also the fund manager, it must also manage and invest the fund accordingly. Trustee banks may also buy, sell, transfer, and otherwise dispose
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- Jurisdiction
- United States — Alabama
- Instrument
- Act or statute
- Version
- Undated source snapshot
- Language
- en
- Official source
- View official record ↗
Statute overview
About this statute
Trustee banks that are parties to a trust agreement must accept custody of contributions and administer the endowment trust fund under the agreement’s terms. If a trustee bank is also the fund manager, it must also manage and invest the fund accordingly. Trustee banks may also buy, sell, transfer, and otherwise dispose of investments in the fund, subject to the agreement and this division.
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Section 11-54-132 Trust Agreement.
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