16-15-102 - Definition of business trust.
16-15-102. Definition of business trust.
As used in this chapter:
(1) "Beneficiary" means a person holding a certificate representing a beneficial interest inthe trust estate and assets.
(2) "Business trust" has the same meaning as in Section 7-5-1.
(3) "Division" means the Division of Corporations and Commercial Code.
(4) "Person" means an individual, general partnership, limited liability partnership, limitedpartnership, limited liability company, limited association, domestic or foreign trust, estate,association, or corporation.
Enacted by Chapter 310, 1995 General Session