All > Business > Banking
- A limited purpose trust company engages only in fiduciary services. It does not accept deposits, and funds are not insured by the FDIC. These institutions enter into trust arrangements with individuals to manage assets, or manage large pools of funds in pension plans, defined benefit plans or defined contribution plans, such as 401(k) accounts.
Connecticut Deptartment of Banking - Cite This Source - This Definition
- Annuity, Beneficiary, Embezzlement, fiduciary capacity, non-banking corporations acting in a, Trust account, Trust administrator, wholesale banking