As used in the Foreign Business Trust Registration Act:
A. "business trust" means an entity engaged in a trade or business that is created by a declaration of trust that transfers property to trustees, to be held and managed by them for the benefit of persons holding certificates representing the beneficial interest in the trust estate and assets; and
B. "foreign business trust" means a business trust formed under the laws of a state other than New Mexico.
History: Laws 2001, ch. 200, § 84.
Effective dates. — Laws 2001, ch. 200, § 101 made the Foreign Business Trust Registration Act effective July 1, 2001.
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