cotrustee

cotrustee

(ˌkəʊtrʌˈstiː)
n
(Law) a fellow trustee
References in periodicals archive ?
0703(5) provides that a cotrustee may not delegate to another co-trustee the performance of a function a settlor reasonable expected the co-trustees to perform jointly.
A graduate of the New College of California poetics program, where she was a student of Robert Duncan's, she is cotrustee of the Jess Collins Trust, which has overseen the publication of The Collected Writings of Robert Duncan at the University of California Press.
Yukio Sakamoto, cotrustee of Elpida, said in the statement that Micron's sponsorship would allow for the stable payment of creditor claims and was "a strong testament to the value of Elpida's technologies, products and people.
14) If the donee uses or threatens to use the charitable gift in a manner contrary to its stated terms or purpose, state law generally empowers the state attorney general; a party with a "special interest" in the enforcement of the gift; a cotrustee or codirector; and, in a few jurisdictions, the donor to sue the donee for a breach of its fiduciary duties.
In many instances, a corporate fiduciary may be indicated, either as sole or cotrustee, if the estate is sizable or if conflicts in interest are likely to arise between individual trustees.
may not delegate to a cotrustee the performance of a function the
Under both alternative methods of reporting, unless the trustee or cotrustee is also the only grantor or other person treated as an owner of the trust, the final regulations require the trustee to furnish each grantor or other person with a statement that:
The successor or the surviving cotrustee can do all the right things, including the transfer of marketable title to the right people, without most of the hassles, delays and possible publicity of probate.
This issue had also been considered on the Malaysia sukuk; the solution there was for the issuer to appoint an independent third party to act as a cotrustee with the same rights and obligations as the issuer in its capacity as trustee.
in the resource, it is a cotrustee along with the states.
If the objective is to cut off the flow of information to other beneficiaries, either there must be a cotrustee to serve along with the income beneficiary, or settlors must avail themselves of their new ability to designate a representative to receive notices, information, and accountings on behalf of the other beneficiaries.
13) Although the wife argued that a merger of legal and equitable titles occurred because she had been given the power to withdraw the entire trust principal and no specific remainder beneficiaries, the court rejected this argument and instead held that "a cotrustee should be appointed.