HomeMy WebLinkAbout2470 Cash (j) To hold part or all of the Trust Fund uninvested.
Advisors (k) To employ suitable agents and counsel and to pay
their reasonable expenses and compensation.
Form busi- (1) To form corporations and to create trusts to hold
nesses and title to any securities or other property, all
trusts upon such terms and conditions as may be deemed
~ advisable.
Administra- (m) To make, execute and deliver as Trustees, any and
tive work for all deed~ leases, mortgages, conveyances, con-
investments tracts, waivers, releases or other instruments
in writing necessary or proper for the accom-
plishment of any of the foregoing powers.
Borrow money (n) From time to time, to borrow money from the Em-
from the ployer or othere for the purposes of the Trust,
Employer on such terms and conditions as the Trustees,
in their sole and absolute discretion, may deem
advisable, and to secure the repayment thereof
I~i by pledging all or any part of the Trust Fund;
~ but no person lending money to the Trust shall
be bound to see to the application of the money
loaned or to inquire into the validity, expedience
or propriety of any such borrowing.
Bank (o) To open and maintain any bank account or accounts
accounts in the name of the Trustees in any bank or banks
as the Trustees shall determine.
Catch-all (p) To do all acts that the Trustees may deem ne-
powers ,a cessary to carry out any of the Powers set forth
herein or otherwise in the~best interest of the
Trust Fund.
Delegation 11.03 The Trustees may delegate any of their ministeral
of Administra- powers or duties hereunder, including the signing
tive and invest- of any checks drawn on their account, to any one
~ ment powers of their agents or employees, including one or
more Trustees. In addition, the Trustees may
~ delegate investment powers to a corporate Trustee
- or custodian which is a duly licensed bank.
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