Definition of business trust.

As used in this chapter: (1) "Beneficiary" means a person holding a certificate representing a beneficial interest in the trust estate and assets. (2) "Business trust" means the same as that term is defined in Section 7-5-101. (3) "Division" means the Division of Corporations and Commercial Code. (4) "Person" means an individual, general partnership, limited liability partnership, limited partnership, limited liability company, limited association, domestic or foreign trust, estate, association, or corporation.