NO.PZ2019070101000102
问题如下：
Which of the following statements regarding the
trustee named in a corporate bond indenture is correct?
选项：
A. The trustee has the authority to declare a default if
the issuer misses a payment.
B. The trustee may take action beyond the indenture to
protect bondholders.
C. The trustee must act at the request of a sufficient
number of bondholders.
D. The trustee is paid by the bondholders or their
representatives.
解释：
According to the Trust Indenture Act, if a corporate
issuer fails to pay interest or principal, the trustee may declare a default
and take such action as may be necessary to protect the rights of bondholders.
Trustees can only perform the actions indicated in the indenture, but are
typically under no obligation to exercise the powers granted by the indenture
even at the request of bondholders. The trustee is paid by the debt issuer, not
by bond holders or their representatives.
