The phrase "acts as trustee" is correct and usable in written English.
It can be used in legal or financial contexts to describe someone who is performing the duties of a trustee, managing assets or responsibilities on behalf of another party.
Example: "In this agreement, the appointed individual acts as trustee for the beneficiaries of the trust."
Alternatives: "serves as trustee" or "functions as trustee".
A Mexican bank acts as trustee, the foreigner its beneficiary.
The bankruptcy office is in charge of the progress of the proceedings and acts as trustee unless the creditors select one of their choice.
In turn, according to the filings, the Stefano Ricucci Trust owns Magiste International, and a Guernsey-registered trustee company acts as trustee of the trust.
Deutsche Bank, which acts as trustee, said in a statement: "The trustee is not responsible for foreclosures or selling foreclosed property.
The theory is that the government acts as trustee for the public and that the public is protected by having its social security taxes put in a separate fund.
The department's Bureau of Indian Affairs acts as trustee of the $56 million fund, and the black Seminoles said the bureau should assure that they were not the victims of discrimination.
U.S. Bancorp, based in Minneapolis, acted as trustee for the debt instruments but does not own any of the Polysindo notes itself, a spokesman said.
The scheme caught the public imagination; King George I granted a charter; the archbishop of Canterbury acted as trustee; subscriptions poured in; and Parliament passed a contingent grant of £20,000.
World Contractual's literature promises licensees a cut of trust set-up fees of from $6,000 to $8,000, as well as monthly fees of $150 to $12,000 per customer to act as trustee.
Fitch lowered $155 million of DVI bonds to "CCC" from "B+" and U.S. Bank National Association, the subsidiary of U.S. Bancorp that acted as trustee of those bonds, notified DVI it was in default.
In a sense, therefore, the owners act as trustees".
