trust account
Definition 1
Umbrella term for all types of trust accounts handled by a bank's trust department or a trust company in complete isolation from its other accounts or assets.
Definition 2
Escrow account in which a bank or trust company (acting as an authorized custodian) holds funds for specific purposes such as to pay property taxes and/or insurance premium associated with a mortgaged property.
Definition 3
Savings account established under a trust agreement whereby a trustee administers the funds for the benefit of one or more beneficiaries.
trust account is in the Banking, Commerce & Finance subject.
trust account appears in the definitions of the following terms: employee profit sharing plan (EPSP) and trust department
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