Massachusetts Trust

(redirected from Massachusetts business trust)
Also found in: Legal, Wikipedia.

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 ?
RHR is organized as a Massachusetts business trust with transferable shares.
The Board of Trustees of the HighMark Funds and the Board of Directors of the Bailard Opportunity Fund Group have approved an agreement pursuant to which the Bailard International Equity Fund, Cognitive Value Fund and Enhanced Growth Fund (the "Former Funds") will transfer all of their assets and identified liabilities to three newly-established series of HighMark Funds, a Massachusetts business trust (the "Successor Funds").
The Fund is a non-diversified closed-end management investment company organized as a Massachusetts business trust.
10, 1999--Colonial Gas Company (NYSE:CLG) announced today that its shareholders have approved a proposal to merge with Eastern Enterprises (NYSE:EFU), a Massachusetts business trust.
The North Carolina Capital Management Trust is an open-end management investment company organized as a Massachusetts business trust.
Composite shareholders are being asked to approve a change in the organizational structure of each Composite fund so that each becomes a series of a new Massachusetts business trust.
29, 1997-- Meditrust (NYSE:MT) announced today that it has declared a stock dividend to shareholders of record as of the close of business on October 3, 1997, of one share of beneficial interest, without par value, of its wholly owned subsidiary Meditrust Acquisition Company, a Massachusetts business trust ("MAC"), for each share of beneficial interest of Meditrust.
BUSINESS WIRE)--March 12, 1997--HRE Properties (NYSE: HRE), a Massachusetts business trust (the "Trust") announced today that it has completed the previously announced reorganization of the Trust into a Maryland Corporation (the "Corporation") effective as of 4:30 p.
Full browser ?