As used in this chapter, unless the context otherwise requires, the following words shall have the meanings respectively ascribed to them:
(1) REAL ESTATE INVESTMENT TRUST. An unincorporated trust or association in which property is acquired, held, managed, administered, controlled, invested, or disposed of for the benefit and profit of any person who may become a shareholder or an entity that otherwise complies with the provisions of 26 U.S.C. Sections 856 to 860, inclusive, of the U.S. Internal Revenue Code, as amended from time to time, and the rulings and regulations adopted thereunder.
(2) SHARE. A transferable unit of beneficial interest in a real estate investment trust.
(3) SHAREHOLDER. The holder of a transferable unit of beneficial interest in a real estate investment trust.
Structure Code of Alabama
Title 10A - Alabama Business and Nonprofit Entities Code.
Chapter 10 - Real Estate Investment Trusts.
Section 10A-10-1.01 - Short Title.
Section 10A-10-1.02 - Definitions.
Section 10A-10-1.03 - Permitted Form of Unincorporated Trust or Association.
Section 10A-10-1.04 - Construction With Other Law.
Section 10A-10-1.05 - Compliance Required.
Section 10A-10-1.06 - Declaration of Trust.
Section 10A-10-1.07 - Classification of Shares.
Section 10A-10-1.08 - Removal of Trustees.
Section 10A-10-1.10 - Provisions on Investments and Use.
Section 10A-10-1.11 - Annual Report.
Section 10A-10-1.12 - Inspection of Records.
Section 10A-10-1.13 - Filing Fees.
Section 10A-10-1.14 - Amendment of Declaration.
Section 10A-10-1.16 - Dissolution.
Section 10A-10-1.17 - Liability of Trust.
Section 10A-10-1.18 - Nonliability of Shareholders for Obligations of Trust.
Section 10A-10-1.19 - Liability of Trustee.
Section 10A-10-1.20 - Service of Process.
Section 10A-10-1.21 - Income Tax.
Section 10A-10-1.23 - Treatment of Corporate Real Estate Investment Trust.