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 19 - Fiduciaries and Trusts.
Section 19-3-60 - Definition of "Business trust."
Section 19-3-61 - Establishment; Lawful Purposes.
Section 19-3-62 - Powers and Liabilities of Trustees; Liability of Trust for Acts of Trustees.
Section 19-3-63 - Certificates of Ownership; Liability of Beneficial Owners.
Section 19-3-64 - Contents and Recordation of Declaration of Trust.
Section 19-3-66 - Suits Against Trust; Property Subject to Attachment and Execution.