53 Pa. Stat. § 5507
Current through Pa Acts 2024-53, 2024-56 through 2024-92
The city shall designate clearly upon its records the names of the charitable uses or trust or of the estate of a minor on behalf of which such city as fiduciary owns a participation in any such common trust fund and the extent of the interest of the charitable use, trust or minor estate therein. No such use, trust or estate shall be deemed to have individual ownership of any assets in such common trust fund but shall be deemed to have the proportionate undivided interest in the common trust fund. The ownership of the individual assets comprising any such common trust fund shall be solely in the city as fiduciary.
53 P.S. § 5507