Alabama Statutes
§ 19-3-63 — Certificates of Ownership; Liability of Beneficial Owners
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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Alabama § 19-3-63 (Certificates of Ownership; Liability of Beneficial Owners) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
(Acts 1961, Ex. Sess., No. 251, p. 2263, §4.)
Nearby Sections
15
§ 19-1-1
Short Title§ 19-1-11
Chapter Not Retroactive§ 19-1-12
Cases Not Provided for in Chapter§ 19-1-13
Uniformity of Interpretation§ 19-1-2
Definitions§ 19-1-8
Deposit in Name of Principal§ 19-1A-1
Short Title