As used in this chapter:
- (1) "Beneficiary" means a person holding a certificate representing a beneficial interest in the trust estate and assets.
- (2) "Business trust" means the same as that term is defined in Section 7-5-101.
- (3) "Division" means the Division of Corporations and Commercial Code.
- (4) "Person" means an individual, general partnership, limited liability partnership, limited partnership, limited liability company, limited association, domestic or foreign trust, estate, association, or corporation.
Amended by Chapter 112, 2026 General Session