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savings bank trust

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savings bank trust

noun
a savings account deposited by someone who makes themselves the trustee for a beneficiary and who controls it during their lifetime; afterward the balance is payable to the previously named beneficiary [syn: savings account trust
WordNet® 3.0, © 2006 by Princeton University.
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Legal Dictionary

Main Entry: savings bank trust
see TRUST
Merriam-Webster's Dictionary of Law, © 1996 Merriam-Webster, Inc.
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