2018 Mississippi Code
Title 79 - Corporations, Associations, and Partnerships
Chapter 15 - Investment Trusts
General Provisions
§ 79-15-13. Liability of holders of certificates of beneficial interest.

Universal Citation:
MS Code § 79-15-13 (2018)
Learn more This media-neutral citation is based on the American Association of Law Libraries Universal Citation Guide and is not necessarily the official citation.

No holder of a fully paid certificate of beneficial interest in an investment trust shall be personally or individually liable in any manner whatever for any debts, acts, omissions, or obligations incurred by the trustees or by the investment trust. It is expressly declared to be the intention of this chapter that the holders of fully paid certificates of beneficial interest issued by an investment trust organized pursuant to this chapter shall not be considered to be partners, either general or limited, in the business of the trust, and the limited liability provided by this section shall not be altered by reason of the fact that the declaration of trust may contain a provision for the election of successor trustees by the holders of certificates of beneficial interest.

Disclaimer: These codes may not be the most recent version. Mississippi may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.