FindLaw Legal Dictionary

The FindLaw Legal Dictionary -- free access to over 8260 definitions of legal terms. Search for a definition or browse our legal glossaries.

Fund

fund n

1 : a sum of money or other resources whose principal or interest is set aside for a specific objective

cli·ent security fund
: a fund established by each state to compensate clients for losses suffered due to their attorneys' misappropriation of funds

common trust fund
: an in-house trust fund established by a bank trust department to pool the assets of many small trusts for greater diversification in investing

executor fund
: a fund established in estate planning to provide for the payment of final expenses by an executor

joint wel·fare fund
: a fund that is established by collective bargaining to provide health and welfare benefits to employees and that is jointly administered by representatives of labor and management

paid-in fund
: a reserve cash fund in lieu of a capital stock account set up by mutual insurance companies to cover unforeseen losses

sink·ing fund
: a fund set up and accumulated by regular deposits for paying off the principal on a debt or for other specified purposes (as self-insurance)

strike fund
: a fund accumulated by a union through special assessments or from general funds and used to pay striking workers or for other strike-related activities

Taft-Hart·ley fund
[taft-hÄ rt-lē-]
[after the Taft-Hartley Act of 1947, which established it]
: joint welfare fund in this entry

trust fund
: property (as money or securities) settled or held in a trust
2 : an organization administering a special fund

growth fund
: a mutual fund that invests in the stock of growth companies

hedge fund
: an investing group usually in the form of a limited partnership that employs speculative techniques in the hope of obtaining large capital gains

index fund
: a mutual fund that invests to reflect the composition of the market as a whole by matching its investments to a stock index

mu·tu·al fund
: an investment company that invests its shareholders' money in a usually diversified group of securities of other companies

vul·ture fund
: an investment company that buys up bankrupt or insolvent companies with the goal of reorganizing them so they can be profitably resold as going concerns
vt 1 a : to make provision of resources for discharging the principal or interest of
b : to provide financial resources for
2 : to place in a fund
3 : to convert into a debt that is payable either at a distant date or at no definite date and that bears a fixed interest


Source: Merriam-Webster's Dictionary of Law ©1996. Merriam-Webster, Incorporated. Published under license with Merriam-Webster, Incorporated.