- 10 - professionals, & influences to classify THIS TRUST as a Business Trust. Directions are hereby given to THE TRUSTEES to guard and resist such classification, through the sophisticated use of Minutes and Records. The declaration of trust provides that the CCJT is irrevocable and may not be altered, revoked, or amended in any respect unless specifically authorized “by this direct instrument” and a unanimous vote of the trustees and further provides that it may not be terminated except through distributions permitted by the declaration of trust and approved by the unanimous vote of the trustees. The declaration of trust further provides that the trust shall continue for 25 years unless the trustees unanimously decide to terminate it earlier or to extend the trust’s term. The declaration of trust confers “exclusive management and control of THE TRUST property and business affairs” on the trustees and requires that there be at least two trustees, although additional trustees may be named “for reasons beneficial to THE TRUST.” The trustees have the right to name successor trustees “by unanimous concurrence and vote”. The declaration of trust authorizes the trustees to exercise broad, general powers including, but not limited to, the following:Page: Previous 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 Next
Last modified: May 25, 2011