A business trust may be established by a declaration of trust, duly executed by one or more trustees, for any lawful purpose including, but not limited to, acquiring, managing, improving, leasing, dealing in, selling, or otherwise alienating, mortgaging, or otherwise incumbering real and personal property of all kinds and descriptions, including dealing in, purchasing, holding, selling, and exchanging stocks, bonds, mortgages, deeds of trust, and other securities of all kinds and descriptions; receiving the income, dividends, rents, profits, and returns therefrom, and investing the same or distributing the same to the beneficial owners of the trust in accordance with the terms of the declaration of trust.
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.