801 CMR, § 50.04

Current through Register 1538, January 3, 2025

Section 50.04 - Declaration of Trust

The Declaration of Trust shall address the particular purposes for which the Expendable Trust is created and shall include the following subject matters, as applicable:

(1) Establishment of the Expendable Trust;

(2) Name of Expendable Trust;

(3) Appointment of Trustee;

(4) Governance;

(5) Contributions to the Expendable Trust;

(6) Exclusive Purposes of the Expendable Trust;

(7) Payments from the Expendable Trust;

(8) Administrative Powers;

(9) Accounting;

(10) Amendments;

(11) Governing Law;

(12) Additional and Successor Trustees;

(13) Compensation of Trustees; and

(14) Termination.

The Secretary of Administration or the Comptroller may publish a template for a Declaration of Trust.

801 CMR, § 50.04

Amended by Mass Register Issue 1323, eff. 10/7/2016.