10-1871. Definitions In this article, unless the context otherwise requires: 1. " Business trust" means an unincorporated association or trust of the type which at common law was known as a " business trust" or " Massachusetts trust" , created by an instrument under which property is held and managed by trustees for the benefit […]
10-1872. Classifications of business trusts Business trusts shall be either domestic or foreign. A domestic business trust is a business trust organized under the laws of this state. A foreign business trust includes every other business trust.
10-1873. Form of association authorized A business trust is permitted as a recognized form of association for the conduct of business within this state.
10-1874. Required delivery to commission; certified copy of trust instrument A. Any business trust desiring to transact business in this state shall deliver to the commission: 1. An executed copy of the articles, declaration of trust or trust agreement by which the trust was created and all amendments thereto, or a true copy thereof certified […]
10-1875. Merger, interest exchange, conversion, domestication or division; definitions A. A domestic business trust may be a party to or otherwise undertake a merger, an interest exchange, a conversion, a domestication or a division by complying with chapters 11 and 13 of this title and title 29, chapter 6. B. If a domestic business trust […]
10-1876. Amendments to trust instrument; filing; recordation The articles, declaration of trust or trust agreement by which any business trust was created may be amended in the manner specified therein or in such manner as is valid under the law applicable to such business trust, provided that no such amendment shall be legally effective in […]
10-1877. Powers; construction of instrument; binding effect of terms and conditions A. Subject to the provisions of section 10-1878, the powers and authority of any business trust authorized under this article to transact business in this state shall be as specified in the instrument by which it was created, as amended, which instrument shall be […]
10-1878. Taxation Any business trust created under this article or entering this state pursuant to this article shall pay such taxes and fees as are imposed by the laws of this state or any political subdivision thereof on domestic and foreign corporations, respectively, on an identical basis therewith.
10-1879. Corporation laws applicable Any business trust shall be subject to such applicable provisions of law from time to time in effect with respect to domestic and foreign corporations, respectively. These shall include, without limitation, such applicable provisions of law as relate to the issuance of securities, filing of required statements or reports, service of […]
