Massachusetts trust

Definition of "Massachusetts trust"
  1. A business-oriented legal trust where investors give management power to a trustee and obtain trust certificates representing their investment. However, as they are not involved in management, these investors are not personally responsible for any debt the trust incurs
How to use "Massachusetts trust" in a sentence
  1. His investments in a Massachusetts trust provided him with trust certificates while freeing him from personal liabilities.
  2. They established a Massachusetts trust, appointing a competent trustee to manage it.
  3. Despite not being in Massachusetts, they set up a Massachusetts trust, mimicking a limited partnership.

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