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LSDefine

Simple English definitions for legal terms

Trust Indenture Act

Read a random definition: manifest constitutional error

A quick definition of Trust Indenture Act:

The Trust Indenture Act is a law that helps keep people who invest in certain types of bonds safe. It makes sure that the people who are in charge of the bonds are independent and that the rules for the bonds are fair. The law was made in 1939 and is still in place today.

A more thorough explanation:

The Trust Indenture Act is a federal law that was passed in 1939 to protect investors who purchase certain types of bonds. The law requires that:

  1. The Securities and Exchange Commission (SEC) approves the trust indenture
  2. The indenture includes certain protective clauses and excludes certain exculpatory clauses
  3. The trustees are independent of the issuing company

For example, if a company wants to issue bonds to raise money, they must create a trust indenture that outlines the terms of the bond. The Trust Indenture Act requires that the SEC approves this indenture to ensure that it is fair and protects the investors. The indenture must also include certain clauses that protect the investors, such as a clause that requires the company to make timely interest payments. Additionally, the trustees who oversee the bond must be independent of the company to prevent any conflicts of interest.

trust indenture | trust indorsement

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Dkk
18:57
I want to meet an attorney that defends clients who run into flat earth problems. I want an attorney that knows and believes in flat earth theory.
19:05
i want a flat earther for president. i want a guy who posts on 4chan for president. i want someone who mogs for president.
Dkk
19:18
Exactly. My version of that awful poem.
Dkk
19:19
I can accept a president with maybe one or two of the poems traits hut good God, all of them??? No ty.
windyMagician
19:20
president who respects sex is crazy
windyMagician
19:20
we had bill clinton already
Dkk
19:21
Bill Clinton, first and last black president
windyMagician
19:23
I want to go running but my leg feels weird
windyMagician
19:23
it doesn't hurt its just tingly
Dkk
19:26
It needs more alcohol. You tingle when your nerves need watering.
19:27
try stretching it maybe to see what's up
windyMagician
19:27
stretches make me think it's just soreness
windyMagician
19:27
I'm sober lol
Dkk
19:38
Anyone else get the google notification that your LSD password has been compromised lol. LSD got hacked.
20:48
what.jpg @Dkk
CynicalOops
21:03
You think you just fell out of a coconut tree?
jackfrost11770
21:10
nope dk
CynicalOops
22:37
Calvinamala Harris
jackfrost11770
23:16
should i start using letterboxed again
Dkk
23:25
@jackfrost11770: if you want but like it aint for me
dk do u ever eat at bk
Dkk
23:48
@chickenburgahfart: I would do that in the Army if really desperate for food or if I had to work through lunch. One of the few fast food places I go to.
bk so slept on
Dkk
0:23
I will take In N Out everyday over it when I can though.
texaslawhopefully
1:22
In N Out is not only the best fast food place, but the prices too are fantastic
Dkk
1:27
Indeed, indeed.
BulbasaurNoLikeCardio
7:51
@texaslawhopefully: best prices and only fast food that doesn't make me sick
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