Section 10-13-4 Construction with other law. - Alabama Statutes

Section 10-13-4

Construction with other law.

(a) This chapter does not limit present law as it applies to the creation of or doing business in the state by:

(1) A common-law trust.

(2) A business trust.

(3) A Massachusetts trust.

(b) To the extent any provision of this chapter is contrary to or inconsistent with 26 U.S.C. Sections 856 to 858, inclusive, of the U.S. Internal Revenue Code or the rulings and regulations adopted under those sections, the latter shall prevail as to any real estate investment trust qualifying under those sections, rulings, and regulations.

(Acts 1995, No. 95-628, p. 1317, §4.)