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The Modern Trust Company; Its Functions and Organization

The Modern Trust Company; Its Functions and Organization


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About the Book

This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated.1905 Excerpt: ... CHAPTER VII INDIVIDUAL TRUST DEPARTMENT GENERAL ORGANIZATION The cardinal principle of the trust department is its separation from the company's own affairs. A distinct organization is therefore maintained for the conduct of trust business, the capital and surplus of the company supplying a guarantee that its obligations in a fiduciary capacity will be properly fulfilled. Whatever the difference in organization, functions, or management, trust companies in every part of the country unite on this general principle of not mingling their own affairs with their trust accounts. In many companies the trust department occupies entirely separate quarters, and has no connection with the banking department except that of depositor. Expenses and earnings are separately shown, and the situation resolves itself into two distinct businesses conducted by the same president and directors under the authority of a single charter. The general organization of the trust department provides for the care of the different kinds of securities which are held, the making of investments, the receipt and disbursement of funds, and the proper accounting to the courts and the parties in interest. In a small or newly formed company the entire business of the individual trust department is usually in the hands of a few employees who attend to all transactions affecting the estates in their control. As the department grows, however, greater specialization becomes necessary, and in the largest companies separate divisions are organized for each part of the business. The plan of organization should always be one which permits of expansion. A single book in the small company is often the nucleus of the division which will later be evolved. The trust records should conform as nearly as possible...


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Product Details
  • ISBN-13: 9781150728808
  • Publisher: General Books
  • Publisher Imprint: General Books
  • Height: 246 mm
  • No of Pages: 110
  • Spine Width: 6 mm
  • Width: 189 mm
  • ISBN-10: 1150728809
  • Publisher Date: 01 Feb 2012
  • Binding: Paperback
  • Language: English
  • Returnable: N
  • Weight: 213 gr


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