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Trust Account

 
Separate bank account, segregated from a broker’s own funds, in which the broker is required by state law to deposit all monies collected for clients; in some states called an escrow account.

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Barron's Banking Dictionary:

Trust Account

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Shorthand name for all types of accounts handled by a bank's Trust Department or by a Trust Company. See also Estate; Guardian; Totten Trust; Trust; Uniform Gift to Minors Act.

 
 

 

Copyrights:

Barron's Business Dictionary. Dictionary of Business Terms. Copyright © 2007 by Barron's Educational Series, Inc. All rights reserved.  Read more
Barron's Banking Dictionary. Dictionary of Banking Terms. Copyright © 2006 by Barron's Educational Series, Inc. All rights reserved.  Read more

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