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administrator


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1. Any person appointed by the courts, or by private arrangement, to manage the property of another. 2. Any person appointed by the courts to take charge of the affairs of a deceased person, who died without making a will. This includes collection of assets, payment of debts, and distribution of the surplus to those persons entitled to inherit, according to the laws of intestacy (see intestate). The administrator must be in possession of letters of administration as proof of the authority vested by the courts. 3. Any person appointed by the courts to implement an administration order or undertake the duty of an administrative receiver, or appointed to carry out an out-of-court administration of the affairs of a person or a company. Debt administration is now recognized as an ancillary credit business.

1. Any person appointed by the courts, or by private arrangement, to manage the property of another. 2. Any person appointed by the courts to take charge of the affairs of a deceased person, who died without making a will. This includes collection of assets, payment of debts, and distribution of the surplus to those persons entitled to inherit, according to the laws of intestacy (see intestate). The administrator must be in possession of letters of administration as proof of the authority vested by the courts. 3. Any person appointed by the courts to implement an administration order or undertake the duty of an administrative receiver, or appointed to carry out an out-of-court administration of the affairs of a person or a company. Debt administration is now recognized as an ancillary credit business.

Subjects: Accounting.


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