A business trust is an express trust created by a written declaration of trust whereby property is conveyed to one or more trustees, who hold and manage the same for the benefit and profit of such persons as may be or become the holders of transferable certificates evidencing the beneficial interest in the trust estate.
Structure Code of Alabama
Title 10A - Alabama Business and Nonprofit Entities Code.
Section 10A-16-1.01 - Definition of "Business trust."
Section 10A-16-1.02 - Establishment; Lawful Purposes.
Section 10A-16-1.03 - Powers and Liabilities of Trustees; Liability of Trust for Acts of Trustees.
Section 10A-16-1.04 - Certificate of Ownership; Liability of Beneficial Owners.
Section 10A-16-1.05 - Contents and Recordation of Declaration of Trust.
Section 10A-16-1.07 - Suits Against Trust; Property Subject to Attachment and Execution.