17 CFR 302.101 – Appointment of receiver and trustee for covered broker or dealer
Current as of: 2024 | Check for updates
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Upon the appointment of the Corporation as receiver for a covered broker or dealer, the Corporation shall appoint SIPC to act as trustee for the covered broker or dealer.
Terms Used In 17 CFR 302.101
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Trustee: A person or institution holding and administering property in trust.