Alabama § 19-3-63 Certificates of Ownership; Liability of Beneficial Owners

Alabama Statutes

§ 19-3-63 — Certificates of Ownership; Liability of Beneficial Owners

Alabama § 19-3-63

Title 19Fiduciaries and Trusts

Ch. 3Trusts

Art. 3Business Trusts

This text of Alabama § 19-3-63 (Certificates 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 § 19-3-63 (2026).

Text

The beneficial ownership in a business trust shall be evidenced by certificates issued by the trustees. These certificates shall be transferable in the same manner as stock certificates of a corporation are 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 shall be evidenced by certificates issued by the trustees. These certificates shall be transferable in the same manner as stock certificates of a corporation are 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.