Code of Alabama |
Match Context and Document information |
URL: | http://alisondb.legislature.state.al.us/alison/CodeOfAlabama /1975/5-12A-8.htm |
---|---|
Depth: | 0 singles |
Size: | 920 bytes |
Modified: | 1998-01-29 19:54:30 |
Categories: | -None- |
Title: | 5-12A-8 |
Description: | -None- |
Keywords: | -None- |
Meta data: | -None- |
Body: | Section 5-12A-8 Record of fiduciary accounts owning interest in fund; extent of interest. The trust institution shall designate clearly upon its records the names of the fiduciary accounts which own a participation in the common trust fund and the extent of the interest of such fiduciary accounts therein. No fiduciary account owning or holding an investment or participation in a common trust fund shall be deemed to have individual ownership of any asset in such common trust fund, but should be deemed to have only a proportionate undivided interest in the common trust fund. (Acts 1980, No. 80-658, ยง5-12-8.) |