Massachusetts Trust


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Massachusetts Trust

A trust whereby the trustee or trustees run a business on behalf of beneficiaries. That is, the trustees act as the managers and the beneficiaries act as shareholders. Beneficiaries may sell their position as beneficiaries. The trustees own all property associated with the business. Income from a Massachusetts trust may be taxed more favorably than other income. The term derives from the first such trust, which was formed in Massachusetts in the late 19th century to avoid local real estate regulation. It is also called a business trust or an unincorporated business organization.
References in periodicals archive ?
Management believes this reorganization will increase its flexibility by enabling it to gain business advantages that may not be available under its current form as a Massachusetts trust and provide for a more conventional and simplified corporate form.
MacDonnell, left, director, Massachusetts Trust for Public Land, talks with Roger Leo, president of the Princeton Land Trust.
has affirmed the issuer credit rating (ICR) of "aa" of the Maiden Re - ARI Reinsurance Trust Agreement (trust) dated January 1, 2010, 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).
has affirmed the issuer credit rating of "aa" of the Maiden Re - ARI Reinsurance Trust Agreement (trust) dated January 1, 2010,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 (ARI), both corporations organized under the laws of the State of New Jersey (the beneficiary) and State Street Bank and Trust Company, a Massachusetts trust company (the trustee).
In May 1997 AFCB provided the initial capitalization for Middlesex a de novo Massachusetts Trust Company.
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