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"Legally, they control the assets and make the decisions," she said.
CompuBank will retain any fees involved in the banking transactions and will control the assets in the consumer accounts.
16 In sum, ERISA vests the "exclusive authority and discretion to manage and control the assets of the plan" in the trustees alone, and not the employer or the union.
For purposes of this subsection, the term "trustee responsibility" means any responsibility provided in the plan's trust instrument (if any) to manage or control the assets of the plan, other than a power under the trust instrument of a named fiduciary to appoint an investment manager in accordance with section 1102(c)(3) of this title.
A trust that an individual establishes during the individual's lifetime, enabling the person to control the assets contributed to the trust.
(After all, you supposedly don't control the assets anymore and the foreign trustee has his own pro-debtor laws to abide by).
Similar(52)
"Although the S.E.C. has included certain descriptions of Magnetar's role in the transaction in the complaint," the company said, "we did not control the asset-selection process".
Why should we give them back?" President Lee kept firm control over the party's businesses, through his ally, Liu Tai-ying, who headed the committee that controls the assets.
According to a report last year from the Council of Europe, which surveyed the Vatican's financial controls, the assets of Mennini's special unit now exceed €680m (£570m).
Receivers are now controlling the assets of the Quinn children, as a means of preventing them from putting any remaining wealth beyond the bank's reach.
Rather than Titan controlling the assets itself, an industry favorite custodian called Apex keeps them secure.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com