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Trustee - Wikipedia, the free encyclopedia (833 words) |
 | A trustee carries the fiduciary responsibility and liability to use the trust assets according to the rules of the trust instrument (and often regardless of his own or the beneficiaries' wishes). |
| Trustees are generally held to a "prudent person" standard in regard to meeting their fiduciary responsibilities, though investment, legal, and other professionals can be held to a higher standard commensurate with their higher expertise. |
| In the case of UK charities, a trustee is an unpaid volunteer who undertakes fiduciary responsibilities on behalf of the charity, subject to the provisions of Charity Law, a branch of trust law, and the Charities Act 1993. |
| The Washington and Lee University Board of Trustees (538 words) |
| The board is expected to execute its responsibilities of oversight of the University's operations through the activities of its standing and ad hoc committees and during the plenary sessions of the full Board of Trustees. |
| Trustees shall be nominated by the Committee on Trusteeship and elected by the Board. |
| He or she is a trustee elected by the board; holds office for a term of four years from the date of election or until a successor is elected; and may serve successive terms in office. |
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