The Plan Administrator and the plan-trustee shall cause all investments applied for after the date that this declaration is adopted to be issued to or registered in the name of the plan-trustee for the purposes of this plan-trust. Further, each employer that maintains a plan, with respect to which this plan-trust declaration is made, hereby irrevocably transfers to the plan-trustee all rights, title and interest in all investments that the employer previously owned but intended to use primarily for the purposes of the plan.
(Ord. NIRC 97-1, passed 1-15-1997)