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A ____________________ Tier Distribution Is One That Must Be Made

question 29

Short Answer

A ____________________ tier distribution is one that must be made by the fiduciary to the beneficiary.


Definitions:

Parts Warehouse

A storage facility specialized in storing spare parts for various types of machinery or vehicles.

Without Recourse

A legal term indicating that the holder of a financial instrument cannot demand payment from the original issuer in the case of default.

Transfer

The act of moving or conveying property, rights, or obligations from one entity or person to another.

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