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A corporate resolution is a document issued by a board of directors, outlining a binding corporate action. [ 1 ] Resolutions may authorize routine transactions such as opening corporate accounts, or adopting a fictitious business name . [ 2 ]
The Resolution Trust Corporation was established in 1989 by the Financial Institutions Reform Recovery and Enforcement Act (FIRREA), and it was overhauled in 1991. [3] In addition to privatizing, and maximizing the recovery from the disposition of, the assets of failed S&Ls, FIRREA also included three specific goals designed to channel the resources of the RTC toward particular societal groups.
In the most basic sense of the term, a corporate trust is a trust created by a corporation. [1]The term in the United States is most often used to describe the business activities of many financial services companies and banks that act in a fiduciary capacity for investors in a particular security (i.e. stock investors or bond investors).
The Resolution Trust Corporation (RTC) was established to dispose of failed thrift institutions taken over by regulators after January 1, 1989. The RTC will make insured deposits at those institutions available to their customers.
This led to a breaking point in July 1911, when Congressman Charles August Lindbergh asserted that a banking trust existed within the United States and that it should be investigated. [1] A move to create an investigation was then made on February 7, 1912, when the democratic Money Trust Caucus decided to pass House Resolution 405. [2]
A trust company is a corporation that acts as a fiduciary, trustee or agent of trusts and agencies. A professional trust company may be independently owned or owned by, for example, a bank or a law firm, and which specializes in being a trustee of various kinds of trusts.
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