FUND
fund,n.1. A sum of money or other liquid assets established for a specific purpose <a fund
reserved for unanticipated expenses>.
blended fund.A fund created by income from more than one source, usu. from the sale of a
testator’s real and personal property.
changing fund.A fund, esp. a trust fund, that changes its form periodically as it is invested
and reinvested.
client-security fund.A fund established usu. by a state or a state bar association to compensate
persons for losses that they suffered because of their attorneys’ misappropriation of funds or other
misconduct. [Cases: Attorney and Client 129.5. C.J.S. Attorney and Client § 279.]
contingent fund. 1. A fund created by a municipality for expenses that will necessarily arise
during the year but that cannot be appropriately classified under any of the specific purposes for
which taxes are collected. [Cases: Municipal Corporations 886. C.J.S. Municipal Corporations §
1627.] 2. A fund segregated by a business to pay unknown costs that may arise in the future. —
Also termed contingency reserve.
executor fund.A fund established for an executor to pay an estate’s final expenses.
fund in court. 1. Contested money deposited with the court. See INTERPLEADER. [Cases:
Deposits in Court 1. C.J.S. Deposits in Court §§ 1, 4–7.] 2. Money deposited to pay a contingent
liability.
general fund. 1. A government’s primary operating fund; a state’s assets furnishing the means
for the support of government and for defraying the legislature’s discretionary appropriations. • A
general fund is distinguished from assets of a special character, such as trust, escrow, and
special-purpose funds. [Cases: States 126. C.J.S. States § 228.] 2. A nonprofit entity’s assets that
are not earmarked for a specific purpose.
general revenue fund.The fund out of which a municipality pays its ordinary and incidental
expenses. [Cases: Municipal Corporations 886. C.J.S. Municipal Corporations § 1627.]
guaranty fund.A private deposit-insurance fund, raised primarily by assessments on banks,
and used to pay the depositors of an insolvent bank. • Guaranty funds preceded the FDIC’s
federal-deposit insurance, which began in 1933, though many funds continued until the
savings-and-loan crisis in the 1980s. Massachusetts has a guaranty fund for uninsured deposits
(deposits above $100,000) that are not covered by federal-deposit insurance. [Cases: Banks and
Banking 15, 504–506. C.J.S. Banks and Banking §§ 24–26, 673, 676–679, 682–694, 696,
699–706, 708–717.]
imprest fund (im-prest). A fund used by a business for small, routine expenses.
joint-welfare fund.A fund that is established in collective bargaining to provide health and
welfare benefits to union employees. • The fund is jointly managed by labor and management
representatives. — Also termed Taft–Hartley fund.
paid-in fund.A reserve cash fund established by a mutual insurance company to pay
unforeseen losses. • The fund is in lieu of a capital stock account.
public fund.(usu. pl.) 1. The revenue or money of a governmental body. • The term includes
not only coins and paper but also bank deposits and instruments representing investments of
public money. [Cases: Municipal Corporations 880. C.J.S. Municipal Corporations § 1623.] 2.
The securities of a state or national government. [Cases: States 122. C.J.S. States § 224.]
revolving fund.A fund whose moneys are continually expended and then replenished, such as
a petty-cash fund.
sinking fund.A fund consisting of regular deposits that are accumulated with interest to pay
off a long-term corporate or public debt. — Abbr. SF. [Cases: Corporations 486; Municipal
Corporations 951. C.J.S. Corporations § 671; Municipal Corporations §§ 1704–1705.]
strike fund.See STRIKE FUND.
Taft–Hartley fund.See joint-welfare fund.
trust fund.See TRUST FUND.
unsatisfied-judgment fund.A fund established by a state to compensate persons for losses
stemming from an automobile accident caused by an uninsured or underinsured motorist. [Cases:
Automobiles 251.1. C.J.S. Motor Vehicles §§ 1285, 1290–1294.]
- (usu. pl.) Money or other assets, such as stocks, bonds, or working capital, available to pay
debts, expenses, and the like <Sue invested her funds in her sister’s business>.
current funds.Assets that can be readily converted into cash.
- A pool of investments owned in common and managed for a fee; MUTUAL FUND < a
diverse portfolio of funds>.
fund,vb. 1. To furnish money to (an individual, entity, or venture), esp. to finance a particular
project. 2. To use resources in a manner that produces interest. 3. To convert (a debt, esp. an open
account) into a long-term debt that bears interest at a fixed rate.[Blacks Law 8th]