BB&T 2015 Annual Report Download - page 321

the Company, Compensation Committee and the Committee as the Trustee may reasonably request. The Trustee may continue to rely
on any such certification until notified to the contrary.
15.4 Authenticity of Instruments: The Trustee shall be fully protected in acting upon any instrument, certificate or
paper believed by it to be genuine and to be signed or presented by the proper person or persons. The Trustee shall be under no duty to
make any investigation or inquiry as to any statement contained in any such writing but may accept the same as conclusive evidence of
the truth and accuracy of the statements therein contained.
15.5 Binding Effect: The Trust shall be binding upon the Company and the Trustee and their respective successors and
assigns.
15.6 Inquiry as to Authority: A third party dealing with the Trustee shall not be required to make inquiry as to the
authority of the Trustee to take any action or be under any obligation to follow the proper application by the Trustee of the proceeds of
sale of any property sold by the Trustee or to inquire into the validity or propriety of any act of the Trustee.
15.7 Responsibility for Company or Compensation Committee Action: The Trustee assumes no obligation or
responsibility with respect to any action required by the Trust on the part of the Company, Compensation Committee or the
Committee.
15.8 Grantor Trust: The Trust is intended to be a trust under which the grantor is treated as the owner for federal
income tax purposes in accordance with the provisions of Sections 671 through 677 of the Code. If the Company or the Trustee deems
it necessary or advisable to undertake or refrain from undertaking any actions (including, but not limited to, making or refraining from
making any elections or filings) in order to ensure that the Company is at all times treated as the owner of the Trust for federal income
tax purposes, the Company or the Trustee will undertake or refrain from undertaking (as the case may be) such actions. The
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Source: BB&T CORP, 10-K, February 25, 2016 Powered by Morningstar® Document Research℠
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