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Regulatory Oversight & Fiduciary Safeguards

Amicus Trust Company, LLC is a state-chartered trust company dedicated to serving injured people and their families. The South Dakota Division of Banking (“Division of Banking”) gave Amicus a trust company charter and it is responsible for overseeing Amicus Trust’s operations.

The Division of Banking performs a thorough examination of Amicus Trust every eighteen to thirty-six months based on evaluation in six categories: Management, Operations, Earnings, Compliance, Asset Management, and an overall Composite Rating.

The trust assets are legally safeguarded and held for the benefit of the trust beneficiaries, not for the advantage of Amicus Trust. All trust assets under management at Amicus Trust are stored in third-party custodians’ custody, primarily Charles Schwab Institutional and Dacotah Bank. In the uncommon case that a trust company fails, all trust assets remain intact and unaltered. The Division of Banking appoints a new corporate trustee to replace the trust business as trustee of each trust.

The Division of Banking constantly monitors Amicus Trust’s capital and pledge accounts held with a third-party bank. Amicus Trust is bonded and maintains adequate errors and omissions insurance coverage to provide additional safeguards to our trust clients’ funds in the event of a potential loss.