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How do you spell Comingling?
or co-min·gle verb (used with or without object), co·min·gled, co·min·gling.
Is it Comingling or commingling?
As verbs the difference between comingle and commingle is that comingle is while commingle is to mix, to blend.
What does commingling of funds mean?
Commingling refers broadly to the mixing of funds belonging to one party with funds belonging to another party. This form of commingling violates Rule 1.15(a) of the Model Rules of Professional Conduct, which states that lawyers must keep their clients’ property separate from their own property.
What do you mean by equated?
transitive verb. 1a : to make equal : equalize. b : to make such an allowance or correction in as will reduce to a common standard or obtain a correct result. 2 : to treat, represent, or regard as equal, equivalent, or comparable equates disagreement with disloyalty.
Is commingling money illegal?
Commingling in general is legal and actually more common than you may think. Business partners who contribute their own personal funds into a joint account for the benefit of the creation or management of the business is a commingled fund.
What is wrong with commingling funds?
If you commingle funds, you could lose the liability protection due to what is known as “piercing the corporate veil”. Having your “veil pierced” sounds like a bad thing. This means that you didn’t keep up the necessary formalities so your LLC or corporation wasn’t a separate legal entity.
What is an example of commingling?
Commingling is when one spouse’s separate property is mixed with the other spouse’s marital property. Commingling can happen when a spouse uses marital funds to improve, maintain, or contribute to separate property. For example, a house that you individually purchased before your marriage is your separate property.
Can be equated with?
: to say or think that (something) is equal to or the same as (something else) He equates disagreement with/and disloyalty.
What is the meaning of the word commingling?
Commingling. A member of a corporation’s board of directors commingles funds when he or she mixes personal funds with the funds of the corporation. An attorney who commingles his or her money with money belonging to a client is violating the ethics of the legal profession.
What is the meaning of the word comingle?
admix, amalgamate, blend, commix, fuse, intermingle, intermix, merge, mingle, mix, stir. The American Heritage® Roget’s Thesaurus. Copyright © 2013, 2014 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved. Want to thank TFD for its existence?
What is commingling and conversion in real estate?
Commingling and Conversion Commingling occurs when real estate licensees deposit money belonging to another or others into a bank account owned or controlled by the licensee that is other than a properly constructed trust account. What is a conversion in real estate?
When does a fiduciary use the term commingling?
The term commingling is most often applied to funds or assets. When a fiduciary, a person entrusted with the management of funds other than his or her own in trust, mixes trust money with that of others, the fiduciary is commingling funds and thereby breaching his or her fiduciary duty.