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

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Terms Used In Alabama Code 10A-10-1.04

  • state: when applied to the different parts of the United States, includes the District of Columbia and the several territories of the United States. See Alabama Code 1-1-1
(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 860, inclusive, of the U.S. Internal Revenue Code, as amended from time to time, 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.
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