fiduciary capacity

(5) Definitions As used in this chapter: (A) Fiduciary The term “fiduciary”— (i) means a person acting for the benefit of another party as a bona fide— (I) trustee; (II) executor; (III) administrator; (IV) custodian; (V) guardian of estates or guardian ad litem; (VI) receiver; (VII) conservator; (VIII) committee of estates of incapacitated persons; (IX) personal representative; (X) trustee (including a successor to a trustee) under an indenture agreement, trust agreement, lease, or similar financing agreement, for debt securities, certificates of interest or certificates of participation in debt securities, or other forms of indebtedness as to which the trustee is not, in the capacity of trustee, the lender; or (XI) representative in any other capacity that the Administrator, after providing public notice, determines to be similar to the capacities described in subclauses (I) through (X); and (ii) does not include— (I) a person that is acting as a fiduciary with respect to a trust or other fiduciary estate that was organized for the primary purpose of, or is engaged in, actively carrying on a trade or business for profit, unless the trust or other fiduciary estate was created as part of, or to facilitate, 1 or more estate plans or because of the incapacity of a natural person; or (II) a person that acquires ownership or control of a vessel or facility with the objective purpose of avoiding liability of the person or of any other person. (B) Fiduciary capacity The term “fiduciary capacity” means the capacity of a person in holding title to a vessel or facility, or otherwise having control of or an interest in the vessel or facility, pursuant to the exercise of the responsibilities of the person as a fiduciary.


42 USC § 9607(n)(5)

Scoping language

As used in this chapter
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