AgdaPkt 2002-12-09 - Laserfiche WebLink

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. . . I -�l �v market The Trustee may rely conclusively on such valuations prov'�ded by the Plan Administrator and shail be indemnified and held harmless by the Plan Administrator with respect to such reliance. If the Plan Administrator fails to pro�ride such values, the Trustee may take whatever � action it deems reasonable, including employment of attomeys, appraisers or other professionals, the expense of which will be an expense of administration of the Agency Trust. Transactions in the account involving such hard to value assets may be postponed until appropriate valuations have been received and Trustee shall have no liability therefore. 5.13 Statements (a) Periodically as specified, and within sixty days after June 30, or the end of the PARS Trust's fiscal year if different, Trustee shall render to the Trust Administrator as directed, a written account. showing in reasonable summary the investments, receipts, disbursements and other transactions � engaged in by the Trustee during the preceding fiscal year or period with respect to the PARS Trust. Such account shall set forth the assets and liabilities of the PARS Trust valued as of fhe end of the accounting period. (b) The Trust Administrator may approve such statements either by written notice or by failure to express objections to such statements by written notice delivered to the Trustee within 90 days from the date the statement is delivered to the Trust Administrator. Upon approval, the Trustee shall be released and discharged as to all matters and items set forth in such statement as if such account had been settled and allowed by a decree from a court of competent jurisdiction. 5.14 Wire Transfers The Trustee shall follow the Ptan Administrator's, Delegatee's, or Trust Administrator's wire transfer instructions in compliance with the written security procedures provided by the party providing the wire transfers. The Trustee shall perform a telephonic verification to the Plan Administrator, Trust Administrator, or � Delegatee, of such other security procedure, as selected by the party providing wire transfer directions, prior to wiring funds or following facsimile directions as Trustee may require. The Plan Administrator assumes the risk of delay of transfer if Trustee is unable to reach the Plan Administrator, or in the event of delay as a resutt of attempts to comply with any other security procedure selected by the directing party. 5.15 Exclusive Benefit The Assets of the Agency Trust shall be held in trust for the exclusive purpose of providing benefits to the participants and their beneficiaries of the Member Agency Plan, and defraying reasonable expenses of the Plan, and shall not be 22 2567 12 PEL . _ _. __. _ _.