Difference between revisions of "Municipal Trustee"
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== Definition == | == Definition == | ||
− | '''Municipal Trustee''' | + | A '''Municipal Trustee''' is a [[Financial Institution]] with trust powers, designated by the issuer or borrower, that acts, pursuant to a bond contract, in a fiduciary capacity for the benefit of the bondholders in enforcing the terms of the bond contract. |
In many cases, the trustee also acts as custodian, paying agent, registrar and/or transfer agent for the bonds. | In many cases, the trustee also acts as custodian, paying agent, registrar and/or transfer agent for the bonds. | ||
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[[Category:Bonds]] | [[Category:Bonds]] | ||
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Latest revision as of 14:10, 24 April 2024
Definition
A Municipal Trustee is a Financial Institution with trust powers, designated by the issuer or borrower, that acts, pursuant to a bond contract, in a fiduciary capacity for the benefit of the bondholders in enforcing the terms of the bond contract.
In many cases, the trustee also acts as custodian, paying agent, registrar and/or transfer agent for the bonds.