Alabama Code 19-3B-802. Duty of loyalty
Current as of: 2024 | Check for updates
|
Other versions
Terms Used In Alabama Code 19-3B-802
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
- Contract: A legal written agreement that becomes binding when signed.
- 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.
- Decedent: A deceased person.
- Fiduciary: A trustee, executor, or administrator.
- following: means next after. See Alabama Code 1-1-1
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
- person: includes a corporation as well as a natural person. See Alabama Code 1-1-1
- property: includes both real and personal property. See Alabama Code 1-1-1
- Trustee: A person or institution holding and administering property in trust.