Alabama § 10A-16-1.04 Certificate of Ownership; Liability of Beneficial Owners

Alabama Statutes

§ 10A-16-1.04 — Certificate of Ownership; Liability of Beneficial Owners

Alabama § 10A-16-1.04

Title 10AAlabama Business and Nonprofit Entities Code

Ch. 16Business Trusts

This text of Alabama § 10A-16-1.04 (Certificate of Ownership; Liability of Beneficial Owners) is published on Counsel Stack Legal Research, covering Alabama primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ala. Code § 10A-16-1.04 (2026).

Text

The beneficial ownership in a business trust may be evidenced by certificates issued by the trustees. These beneficial interests, whether certificated or uncertificated, shall be transferable in the same manner as stock of a corporation is transferable. No assessment shall be made against the interest of any beneficial owner, and no beneficial owner shall be personally liable for any debts or liabilities incurred by the trustees or by the business trust.

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The beneficial ownership in a business trust may be evidenced by certificates issued by the trustees. These beneficial interests, whether certificated or uncertificated, shall be transferable in the same manner as stock of a corporation is transferable. No assessment shall be made against the interest of any beneficial owner, and no beneficial owner shall be personally liable for any debts or liabilities incurred by the trustees or by the business trust.