New York Custodian Agreement

• Category: Corporations - Public
• State: Multi-State
• Control #: US-EG-9188
• Format: Word; Rich Text

Description

Custodian Agreement between First American Insurance Portfolios, Inc. and U.S. Bank National Association dated December 8, 1999. 17 pages The New York Custodian Agreement is a legally binding document that outlines the terms and conditions of a custodial arrangement between a custodian and a client. This agreement is commonly used in the financial industry, particularly in the context of securities, where a custodian holds and safeguards assets on behalf of an investor or financial institution. The primary purpose of the New York Custodian Agreement is to establish the rights and responsibilities of both parties involved. It specifies the duties of the custodian, which typically include safekeeping and maintaining records of the assets held, processing transactions, and providing regular reports to the client. Additionally, the agreement outlines the responsibilities of the client, such as providing accurate instructions, paying fees, and promptly notifying the custodian of any changes or irregularities. Within the realm of New York Custodian Agreements, there are several types that cater to specific needs and services. These types may include: 1. Securities Custodian Agreement: This type of agreement pertains specifically to the custody and management of securities, such as stocks, bonds, or mutual funds. It outlines the custodian's role in facilitating trade settlement, corporate actions, and custodial services related to these securities. 2. Pension Custodian Agreement: A pension custodian agreement is applicable when a custodian is responsible for holding and administering assets related to a pension fund or retirement plan. It details the custodial services, reporting requirements, and any specific regulations or guidelines related to the pension industry. 3. Alternative Investment Custodian Agreement: This agreement focuses on custodial services related to alternative investments, such as private equity, hedge funds, or real estate funds. It elaborates on the custodian's responsibilities regarding asset custody, valuation, and compliance with relevant regulations. 4. Qualified Intermediary Custodian Agreement: This type of agreement pertains to custodial services offered by a qualified intermediary in the context of tax-deferred like-kind exchanges, often referred to as 1031 exchanges. It outlines the custodian's role in holding and transferring funds or assets during the exchange process while meeting the requirements set forth by the Internal Revenue Service (IRS). It is important to note that New York Custodian Agreements must adhere to the relevant federal and state laws governing custodial services, which may include regulations imposed by the Securities and Exchange Commission (SEC) or the New York State Department of Financial Services (DFS). Additionally, individual financial institutions or custodians may have their own specific terms and conditions that will be outlined in the agreement.

The New York Custodian Agreement is a legally binding document that outlines the terms and conditions of a custodial arrangement between a custodian and a client. This agreement is commonly used in the financial industry, particularly in the context of securities, where a custodian holds and safeguards assets on behalf of an investor or financial institution. The primary purpose of the New York Custodian Agreement is to establish the rights and responsibilities of both parties involved. It specifies the duties of the custodian, which typically include safekeeping and maintaining records of the assets held, processing transactions, and providing regular reports to the client. Additionally, the agreement outlines the responsibilities of the client, such as providing accurate instructions, paying fees, and promptly notifying the custodian of any changes or irregularities. Within the realm of New York Custodian Agreements, there are several types that cater to specific needs and services. These types may include: 1. Securities Custodian Agreement: This type of agreement pertains specifically to the custody and management of securities, such as stocks, bonds, or mutual funds. It outlines the custodian's role in facilitating trade settlement, corporate actions, and custodial services related to these securities. 2. Pension Custodian Agreement: A pension custodian agreement is applicable when a custodian is responsible for holding and administering assets related to a pension fund or retirement plan. It details the custodial services, reporting requirements, and any specific regulations or guidelines related to the pension industry. 3. Alternative Investment Custodian Agreement: This agreement focuses on custodial services related to alternative investments, such as private equity, hedge funds, or real estate funds. It elaborates on the custodian's responsibilities regarding asset custody, valuation, and compliance with relevant regulations. 4. Qualified Intermediary Custodian Agreement: This type of agreement pertains to custodial services offered by a qualified intermediary in the context of tax-deferred like-kind exchanges, often referred to as 1031 exchanges. It outlines the custodian's role in holding and transferring funds or assets during the exchange process while meeting the requirements set forth by the Internal Revenue Service (IRS). It is important to note that New York Custodian Agreements must adhere to the relevant federal and state laws governing custodial services, which may include regulations imposed by the Securities and Exchange Commission (SEC) or the New York State Department of Financial Services (DFS). Additionally, individual financial institutions or custodians may have their own specific terms and conditions that will be outlined in the agreement.