Massachusetts Trust


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Massachusetts Trust

A business arrangement that is used in place of a corporation or partnership in which trustees hold title to property for the advantage of beneficiaries for investment purposes.

A Massachusetts trust is another name for a common-law trust or a Business Trust, which offers its beneficiaries limited financial liability in transactions in which it engages.

Massachusetts Trust

n. a business in which the investors give management authority to a trustee, and receive "trust certificates" representing their investments. Since they own only the certificates and do not participate in management, the investors can only lose their investment and are not personally liable for any debts of the trust. This is similar to a "limited partnership." A Massachusetts Trust is strictly a business entity and bears no relationship to a personal trust like living and testamentary trusts set up to manage and protect the assets of individuals and provide for eventual distribution.

References in periodicals archive ?
Worcester Restaurant Associates is owned by the Kirby Family Trust, a Massachusetts trust that lists the owners as Dr.
Mercer") today announced that it has filed a registration statement on Form S-4 (the "Registration Statement") with the Securities and Exchange Commission ("SEC") for the purpose of changing its legal form from that of a Massachusetts trust to a corporate form.
This trust agreement, with an effective date of January 1, 2010, is between Maiden Reinsurance Company (Maiden Re), a corporation organized under the laws of the State of Missouri (the Grantor), ARI Mutual Insurance Company and ARI Casualty Company (collectively known as ARI, the beneficiary), both corporations organized under the laws of the State of New Jersey and State Street Bank and Trust Company, a Massachusetts trust company (the trustee).
He has spoken at the Massachusetts Audubon Society educators' conference and, in conjunction with the Massachusetts Trust for Public Land, at Bancroft School in Worcester.
The CIGNA Funds Group, a Massachusetts trust, includes 14 separate fixed income, equity and cash mutual funds.

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