Ala. Code § 10A-16-1.07

Current through the 2024 Regular Session.

Section 10A-16-1.07 - Suits against trust; property subject to attachment and execution

A business trust may be sued for debts and other obligations incurred by the trustees in the performance of their duties under the declaration of trust and for any damages resulting from the negligence of the trustees, and its property shall be subject to attachment and execution in like manner as if it were a corporation.

Ala. Code § 10A-16-1.07 (1975)

Acts 1961, Ex. Sess., No. 251, p. 2263, §7; §19-3-66; amended and renumbered by Act 2009-513, p. 967, § 318.