Commingling
| Author | Jeffrey Lehman, Shirelle Phelps |
Page 23
Combining things into one body.
The term commingling is most often applied to funds or assets. When a fiduciary, a person entrusted with the management of funds other than his or her own in trust, mixes trust money with that of others, the fiduciary is commingling funds and thereby breaching his or her fiduciary duty.
A member of a corporation's board of directors commingles funds when he or she mixes personal funds with the funds of the corporation. An attorney...
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