depositary Definition
- 1a person or organization that holds something in custody, such as funds or property, for another
- 2a place where something is deposited or stored
Using depositary: Examples
Take a moment to familiarize yourself with how "depositary" can be used in various situations through the following examples!
Example
The bank acted as a depositary for the company's funds.
Example
The museum is the depositary of many valuable artifacts.
Example
The lawyer was appointed as the depositary of the will.
depositary Synonyms and Antonyms
Synonyms for depositary
Phrases with depositary
a certificate issued by a bank representing shares in a foreign company held by the bank
Example
The investor purchased depositary receipts for shares in the Japanese company.
a library designated by the United States Government to receive and maintain a collection of U.S. government publications
Example
The University of Michigan is a designated depositary library for U.S. government publications.
a legal agreement between a depositor and a depositary outlining the terms and conditions of the deposit
Example
The depositary agreement specified the rights and obligations of both parties.
Origins of depositary
from Latin 'depositarius', from 'depositum', meaning 'something deposited'
Summary: depositary in Brief
'Depositary' [dɪˈpɒzɪtəri] refers to a person or organization that holds something in custody for another, such as funds or property. It can also refer to a place where something is deposited or stored. Examples include banks acting as depositaries for company funds, museums holding valuable artifacts, and lawyers appointed as depositaries of wills. Other related phrases include 'depositary receipt,' 'depositary library,' and 'depositary agreement.'
