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 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.