A custodian is a person that cleans and maintains large buildings. Examples include: A school custodian, a custodian for any large public use buildings.
As a financial term, refers to a bank, agent, or other organization responsible for safeguarding a firm's or individual's financial assets.
As a legal term, refers to the person appointed to manage and dispense funds for a child without constricting court supervision and accounting requirements. This is a list of legal terms, often from Latin: A mensa et thoro A mensa et thoro, from bed and board. ...
A custodian trustee must hold the title to all the property of the trust of which it is the custodian trustee.
The relationship between the custodian trustee and the "managing trustees" was elaborately defined in the 1906 Act, and could not be changed by agreement: specifically the custodian trustee was given a range of statutory responsibilities designed to safeguard the property of the trusts from loss.
For example, a custodian trustee would be prevented by the terms of the statutory relationship between itself and the managing trustees from making the sort of arrangements with the managing trustees which would be necessary to achieve the objective of speeding up the stock transfer process, and making it more convenient and economical.
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