79-15-103 - Rights and responsibilities similar to domestic trusts.
§ 79-15-103. Rights and responsibilities similar to domestic trusts.
A foreign investment trust which shall have received a certificate of authority under Sections 79-15-101 through 79-15-139 shall, until a certificate of revocation or of withdrawal shall have been issued as provided in Sections 79-15-123 through 79-15-129, enjoy the same, but no greater, rights and privileges as a domestic investment trust organized for the purposes set forth in the application pursuant to which such certificate of authority is issued; and, except as in Sections 79-15-101 through 79-15-139 otherwise provided, shall be subject to the same duties, restrictions, penalties and liabilities now or hereafter imposed upon a domestic investment trust of like character.
Sources: Laws, 1978, ch. 463, § 3, eff from and after July 1, 1978.