16-12-2. Definition of real estate investment trust. A real estate investment trust is an unincorporated trust or association which has complied or intends to comply with Sections 856, 857, and 858 of the federal Internal Revenue Code of 1954, as amended, or such sections or section of any subsequent internal revenue code as may be […]
16-12-3. Declaration of trust — Filing fee. An original and one copy of the declaration of trust of a real estate investment trust shall be delivered to the Division of Corporations and Commercial Code, and the division shall endorse on the original and one copy the word “filed.” The Division of Corporations and Commercial Code […]
16-12-4. Powers of real estate investment trust. A real estate investment trust shall have power to sue and be sued, in its trust name, and to acquire title, lease, mortgage, convey or otherwise deal with real and personal property, or any interest therein in its trust name. Enacted by Chapter 114, 1965 General Session
16-12-5. Limited liability of shareholders or beneficiaries. The shareholders or beneficiaries of a real estate investment trust are not, as such, personally liable for obligations of the real estate investment trust, and shall be under no obligation to the trust or its creditors with respect to such shares or interest other than the obligation to […]
16-12-6. Trustee governed by declaration of trust — Liability. A trustee of a real estate investment trust shall be governed by all the provisions of the declaration of trust and is not liable for any claims or damages that may result from his acts in the discharge of any duty imposed or power conferred upon […]
