An account set up for a specific purpose and funded by regular deposits (savings account offered by a financial institution to investors looking to save for particular purpose). This also includes – which the name does not initially suggest – an account set up by an individual for this purpose, e.g. to cover expenses during a vacation. Such accounts are often set up by charitable organizations, for example to give presents to the poor at Christmas (Christmas account of Rotary Club) or to finance the operation of a destitute patient. – Often, these accounts also include those into which parents regularly pay to finance their children’s further education (college fund: regular savings by parents for use of a child’s college fees). – See savings association, tontine.
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University Professor Dr. Gerhard Merk, Dipl.rer.pol., Dipl.rer.oec.
Professor Dr. Eckehard Krah, Dipl.rer.pol.
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