BB&T 2015 Annual Report Download - page 315

the Trust, the Trustee shall file with the Company a written account setting forth all investments, receipts, disbursements and other
transactions effected by it during the preceding Fiscal Year, or during such period from the close of the prior Fiscal Year to the date of
such removal, resignation or termination, including a description of all investments and securities purchased and sold, with the cost or
net proceeds of such purchases or sales, and showing all cash, securities and other property held at the end of such Fiscal Year or other
period. If within ninety days after the filing of such account the Company has not filed with the Trustee notice or any objection to any
act or transaction of the Trustee, the initial account shall become final. If any objection has been filed, and if the Company is satisfied
that the objection should be withdrawn, the Company shall in writing filed with the Trustee signify its approval of the account, and it
shall become final. If the account is adjusted following an objection thereto, the Trustee shall file with the Company the adjusted
account, and if within thirty days after such filing of an adjusted account the Company has not filed with the Trustee notice of any
objection to the transactions as so adjusted, the adjusted account shall become final. Unless an account is fraudulent when it becomes
final, the Trustee shall, to the maximum extent permitted by applicable law, be forever released and discharged from all liability and
accountability with respect to the propriety of its acts and transactions shown in such account.
8.3 Audit: The Trustee shall from time to time permit an independent certified public accountant selected by the
Company to have access during ordinary business hours to such records as may be necessary to audit the Trustee’s accounts.
8.4 Judicial Settlement: Nothing contained in the Trust shall be construed as depriving the Trustee or the Company of
the right to have a judicial settlement of the Trustee’s account.
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Source: BB&T CORP, 10-K, February 25, 2016 Powered by Morningstar® Document Research℠
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