---
kind: "section"
citation: "17 C.F.R. § 300.104"
title: "17"
number: "300.104"
heading: "Trust accounts."
url: "https://uscodex.org/cfr/17/300.104"
---

# §300.104. Trust accounts.

- (a) A trust account held with a member shall be deemed a “qualifying trust account” if it is held on behalf of a valid and subsisting express trust created by a written instrument. No account held on behalf of a trust that on the filing date existed primarily to obtain or increase protection under the Act shall be deemed to be a qualifying trust account.
- (b) A qualifying trust account held with a member shall be deemed held by a separate customer of the member, distinct from the trustee, the testator or his estate, the settlor, or any beneficiary of the trust.
- (c) Any account held with a member on behalf of a trust which does not meet the requirements of [paragraph (a)](#a) of this rule shall be deemed to be an individual account of the settlor of the trust on behalf of which the account is held.

## Notes

### Authority

Authority: 15 U.S.C. 78ccc.

### Source

Source: 44 FR 5077, Jan. 25, 1979, unless otherwise noted.