“Massachusetts trust” means an unincorporated association organized under Massachusetts law that:

1. (a) Invests in real estate in a manner similar to a mutual fund investing in securities; and
2. (b) Conveys property to trustees to be managed for the benefit of the trust certificate holders.

Source. #6691, eff 2-21-98, EXPIRED: 2-21-06 New. #8579, eff 3-8-06; ss by #10665, eff 9-9-14; renumbered by #11005 (formerly Rev 801.06); ss by #14071, eff 9-10-24