Certificates of deposit

Checkout our iOS App for a better way to browser and research.

When a governing body of a trust shall decide to invest moneys belonging to the trust in certificates of deposit, the following conditions must be met:

  1. (1) The certificate of deposit must be issued in the name of the trust;

  2. (2) The certificate, when received, must be maintained at the office of the board of trustees or in the trust department of a firm normally engaged in providing trust services; and

  3. (3) Subsequent to the purchasing of a certificate of deposit, the board of trustees shall be required to request confirmation of the validity of the certificate directly from the issuing bank.


Download our app to see the most-to-date content.