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The New York Community Trust (The Trust) is a community foundation that serves New York City's five boroughs, Long Island, and Westchester County. The Trust administers more than 2,200 charitable funds. Established in 1924, The Trust is one of the nation's 10 largest community foundations with nearly $3.3 billion in assets. [1]
First, the trust can only last as long as the lifetime of the animal (or the last surviving animal in a group) [102] or in the case of a cemetery trust, no more than 21 years. [103] Also, the trust's corpus can only be applied to the intended use of caring for the animal or the cemetery plot. [104]
Bankers Trust logo c. 1919. In 1903 a group of New York national banks formed trust company Bankers Trust to provide trust services to customers of state and national banks throughout the country on the premise that it would not lure commercial bank customers away. [2]
In January 1925, it was announced that the Metropolitan Trust Company, which had resources of $61,907,998, was to merge with the Chatham and Phenix National Bank, which had total resources of $226,901,582, under the name of the Chatham Phenix National Bank and Trust Company of New York, the first time a national bank in New York City was permitted to use the name "Trust Company". [15]
The final text of the Uniform Trust Code (UTC) was approved by the ULC commissioners in August 2000. The American Bar Association's House of Delegates officially endorsed the UTC in February 2001. The following months saw the finalization of detailed interpretive comments in April 2001 and minor clean-up revisions in August 2001. [ 2 ]
Bank of America Private Bank (formerly U.S. Trust) was founded in 1853 as the United States Trust Company of New York. [1] It operated independently until 2000, when it was acquired by Charles Schwab, and Co. [2] and subsequently sold to, and became a subsidiary of, Bank of America in 2007. [3]
In 1931, Fiduciary Trust Company of New York opened for business on the 30th floor at One Wall Street in New York City. The firm was founded as a multi-family office to serve wealthy individuals and families during the financial crisis of the time.
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