The bylaws of the trust are in the indenture, in the corpus of it. They’re not termed “bylaws”, but that’s basically what they are. Shares of the trust are called “units”. These are all explained in the indenture and in the manual. However, the trust is not properly called a “corporation”. A corporation is a public entity that is generally statutory. That’s why these trusts are sometimes called “unincorporated business organizations”.
Modified on: Wed, 22 Jul, 2015 at 7:20 PM
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