Massachusetts General Laws ch. 175F sec. 15 – Liability of fund
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Section 15. No money or other asset of any fund shall be liable to attachment, trustee process, equitable lien or other process, or to be seized, taken, appropriated or applied by any legal or equitable process or operation of law to pay any debt or liability of any legal person except as provided in this chapter or in the trust instrument governing the fund.
Terms Used In Massachusetts General Laws ch. 175F sec. 15
- Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
- Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. Source: U.S. Courts
- Lien: A claim against real or personal property in satisfaction of a debt.
- Trustee: A person or institution holding and administering property in trust.