Blind Trust Agreement Form

Follow all reporting obligations under federal or national law. For example, elected California officials will have to submit a report when the trust sells assets. The agent will inform the politician of the sale, but will not be able to provide information on subsequent purchases. No one found it. However, the definition section of the Minnesota chapter on campaign finance and disclosure excludes from the definition of “securities” all underlying assets held by a blind trust. M.S.A. 10A.01. This could indicate that individual assets within a blind trust should not be disclosed, but only the blind trust itself. The legislature finds that when a public servant creates trust and does not control the interests of the trust, his or her official action is not or does not appear to be influenced by private considerations.

FL ST 112.31425. No one found it to be related to state legislators. However, the advertising obligations of other public servants and employees include a provision that exempts shares held in a blind trust from the obligation that such information contain the name of a company in which the State officer, candidate or employee of his or her non-emancipated spouse or child owns shares or stock options worth more than $10,000. IC 4-2-6-8. Another situation where blind trust is useful: when a business leader wants to avoid insider trading. Management may divide all the shares it holds in blind confidence, thus giving complete control and knowledge of the timing and quantity of the share sold to a trustee. This strategy removes restrictions on the sale of the stock, as it is no longer held by an insider, which can lead to better investment results. The agent can manage assets to improve asset diversification and the officer`s risk profile and does not have to worry about window periods or closures that affect insiders.

No concrete effect found in the statutes of the state. However, Maryland`s administrative provisions provide that interest held in a blind trust does not trigger the requirements and restrictions of disqualification provisions for the purposes of disqualification requirements. Code Md. Regs. 19A.06.01.03 (Currently at 30.09.2020). A blind trust is when the beneficiary, as designated by the Trustor, is not aware of how the trust`s assets are managed.