A Massachusetts trust is an unincorporated business association created at common law by an instrument under which property is held and managed by trustees for the benefit and profit of such persons as may be or may become the holders of transferable certificates evidencing beneficial interests in the trust estate, the holders of which certificates are entitled to the same limitation of personal liability extended to stockholders of private corporations.
RCW 23.90.020
Massachusetts trust defined.
Known as the Massachusetts Trust Act
The act spans §§ 23–23 (6 sections).
Applied in 1 court decision — leading case 62 Wash. 2d 91 - Pacific American Realty Trust v. Lonctot (1963)
Most recently applied in 62 Wash. 2d 91 - Pacific American Realty Trust v. Lonctot (May 1963)
1959 c 220 s 2.
Official source: Washington State Legislature. Reproduced from public-domain Washington statutes; confirm against the official source for the current text. Not legal advice.