Trust Fund Doctrine
Legal definition for Indian law research
Definition
trust fund doctrine
: a doctrine holding that shareholders to whom assets of an insolvent corporation have been transferred are liable to creditors upon dissolution of the corporation
;broadly
: a doctrine holding that corporate assets are held as a trust fund for the benefit of shareholders and creditors and that corporate officers have a fiduciary duty to deal with them properly
Definitions are for legal research. Always verify meaning in the context of the statute, judgment, or jurisdiction cited.