Legal Question in Business Law in California
not-ownership account
What is a not-ownership account in relation to a pension fund of a company?
Asked on 6/02/08, 2:26 pm
1 Answer from Attorneys
Bryan Whipple
Bryan R. R. Whipple, Attorney at Law
Re: not-ownership account
I read this in another attorney's answer to what must have been your previous question. The idea is that a corporation's pension funds should be in an account that the corporation doesn't own or control, such as an irrevocable trust. That's what not-ownership would mean (he probably meant to type "non-ownership").
Answered on 6/02/08, 5:30 pm
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