LEGAL OWNERSHIP OF ASSETS OF THE TRUST. The legal ownership of the assets of the Trust and the right to conduct the business of the Trust are vested exclusively in the Trustees, and the Shareholders shall have no interest therein other than beneficial interest in the Trust conferred by their Shares issued hereunder and they shall have no right to compel any partition, division, dividend, dividend or distribution of the Trust or any of the assets of the Trust.
Appears in 3 contracts
Samples: Agreement and Declaration of Trust (United Mortgage Trust), Agreement and Declaration of Trust (United Mortgage Trust), Agreement and Declaration of Trust (United Mortgage Trust)
LEGAL OWNERSHIP OF ASSETS OF THE TRUST. The legal ownership of the assets of the Trust and the right to conduct the business of the Trust are vested exclusively in the Trustees, and the Shareholders shall have no interest therein other than beneficial interest in the Trust conferred by their Shares issued hereunder and they shall have no right to compel any partition, division, dividend, dividend or distribution of the Trust or any of the assets of the Trust.
Appears in 1 contract
Samples: Declaration of Trust (American Mortgage Investors Trust)
