reglab/housing_qa huggingface dataset:
MA Gen L ch 180a § 3 (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title XXII - Corporations|Chapter 180a - Uniform Prudent Management of Institutional Funds|Section 3 - Appropriation for Expenditure or Accumulation of Endowment Fund; Rules of Construction

Section 3. (a) Subject to the intent of a donor expressed in the gift instrument, an institution may appropriate for expenditure or accumulate so much of an endowment fund as the institution determines is prudent for the uses, benefits, purposes and duration for which the endowment fund is established. Unless stated otherwise in the gift instrument, the assets in an endowment fund shall be donor-restricted assets until appropriated for expenditure by the institution. In making a determination to appropriate or accumulate, the institution shall act in good faith, with the care that an ordinarily prudent person in a like position would exercise under similar circumstances, and shall consider, if relevant, the following factors:  (i) the duration and preservation of the endowment fund;  (ii) the purposes of the institution and the endowment fund;  (iii) general economic conditions;  (iv) the possible effect of inflation or deflation;  (v) the expected total return from income and the appreciation of investments;  (vi) other resources of the institution; and  (vii) the investment policy of the institution.  (b) To limit the authority to appropriate for expenditure or accumulate under subsection (a), a gift instrument shall specifically state the limitation.  (c) Terms in a gift instrument designating a gift as an endowment, or a direction or authorization in the gift instrument to use only ''income'', ''interest'', ''dividends'' or ''rents, issues or profits'', or ''to preserve the principal intact'' or words of similar import shall:  (i) create an endowment fund of permanent duration unless other language in the gift instrument limits the duration of the fund; and  (ii) not, standing alone, limit the authority to appropriate for expenditure or accumulate under subsection (a).
MA Gen L ch 180a § 4 (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title XXII - Corporations|Chapter 180a - Uniform Prudent Management of Institutional Funds|Section 4 - Delegation of Management and Investment of an Institutional Fund

Section 4. (a) Subject to any specific limitation set forth in a gift instrument or in other general or special law, an institution may delegate to an external agent the management and investment of an institutional fund to the extent that an institution could prudently delegate under the circumstances. An institution shall act in good faith, with the care that an ordinarily prudent person in a like position would exercise under similar circumstances, in:  (i) selecting an agent;  (ii) establishing the scope and terms of the delegation, consistent with the purposes of the institution and the institutional fund; and  (iii) periodically reviewing the agent's actions in order to monitor the agent's performance and compliance with the scope and terms of the delegation.  (b) In performing a delegated function, an agent shall owe a duty to the institution to exercise reasonable care to comply with the scope and terms of the delegation.  (c) An institution that complies with subsection (a) shall not be liable for the decisions or actions of an agent to which the function was delegated.  (d) By accepting delegation of a management or investment function from an institution that is subject to the laws of the commonwealth, an agent submits to the jurisdiction of the courts of the commonwealth in all proceedings arising from or related to the delegation or the performance of the delegated function.  (e) An institution may delegate management and investment functions to its committees, officers or employees as authorized by any other general or special law.
MA Gen L ch 180a § 5 (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title XXII - Corporations|Chapter 180a - Uniform Prudent Management of Institutional Funds|Section 5 - Release or Modification of Restriction on Management, Investment, Duration or Purpose

Section 5. (a) If the donor consents in a record, an institution may release or modify, in whole or in part, a restriction contained in a gift instrument on the management, investment, duration or purpose of an institutional fund. A release or modification shall not allow a fund to be used for a purpose other than a charitable purpose of the institution.  (b) The court, upon application of an institution, may modify a restriction contained in a gift instrument regarding the management, investment or duration of an institutional fund if the restriction has become impracticable or wasteful, if it impairs the management or investment of the fund or if, because of circumstances not anticipated by the donor, a modification of a restriction will further the purposes of the fund. The attorney general shall be made a party to any such application and resulting proceeding. To the extent practicable, a modification shall be made in accordance with the donor's probable intention.  (c) If a particular charitable purpose or a restriction contained in a gift instrument on the use of an institutional fund becomes unlawful, impracticable, impossible to achieve or wasteful, the court, upon application of an institution, may modify the purpose of the fund or the restriction on the use of the fund in a manner consistent with the charitable purposes expressed in the gift instrument. The attorney general shall be made a party to any such application and resulting proceeding.  (d) The supreme judicial court may by rule or order provide that an application otherwise subject to court approval pursuant to subsections (b) and (c), may be approved by the attorney general if the value of the fund is not greater than such amount as the court may provide or in such other situations as the court may so provide.
MA Gen L ch 180a § 6 (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title XXII - Corporations|Chapter 180a - Uniform Prudent Management of Institutional Funds|Section 6 - Reviewing Compliance

Section 6. Compliance with this chapter shall be determined in light of the facts and circumstances existing at the time a decision is made or an action is taken and not by hindsight.
MA Gen L ch 180a § 7 (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title XXII - Corporations|Chapter 180a - Uniform Prudent Management of Institutional Funds|Section 7 - Application of Chapter

Section 7. This chapter shall apply to institutional funds existing on or established after June 30, 2009. As applied to institutional funds existing on June 30, 2009, this chapter shall govern only decisions made or actions taken on or after that date.
MA Gen L ch 180a § 8 (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title XXII - Corporations|Chapter 180a - Uniform Prudent Management of Institutional Funds|Section 8 - Effect of Chapter on Electronic Signatures in Global and National Commerce Act

Section 8. This chapter modifies, limits and supersedes the electronic signatures in the Global and National Commerce Act, 15 U.S.C. Section 7001 et seq., but does not modify, limit or supersede Section 101(c) of said act, 15 U.S.C. Section 7001(c) or authorize electronic delivery of any of the notices described in Section 103 of said act, 15 U.S.C. Section 7003(b).
MA Gen L ch 180a § 9 (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title XXII - Corporations|Chapter 180a - Uniform Prudent Management of Institutional Funds|Section 9 - Construction and Application of Chapter

Section 9. In applying and construing this chapter, consideration shall be given to the need to promote uniformity of the law with respect to its subject matter among states that enact the Uniform Prudent Management of Institutional Funds Act. To the extent that any provision of the law, rule or regulation is in conflict with this chapter, specifically to the extent that any such conflict would operate to defeat or otherwise interfere with the purposes of this chapter, this chapter shall supersede and take precedence over any such law, rule or regulation. This act shall be construed to the maximum extent possible so as to not constitute an impairment of contract.
MA Gen L ch 182 § 1 (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title XXII - Corporations|Chapter 182 - Voluntary Associations and Certain Trusts|Section 1 - Definitions

Section 1. The following words, as used in this chapter, shall, except as otherwise expressly provided in section two A, have the following meanings: ''Association'', a voluntary association under a written instrument or declaration of trust, the beneficial interest under which is divided into transferable certificates of participation or shares. ''Secretary'', the state secretary. ''Department'', the department of public utilities or the department of telecommunications and cable. When used in sections two to seven, inclusive, and twelve to fourteen, inclusive, of this chapter, the word ''trust'' shall, except as otherwise expressly provided in section two A, mean a trust operating under a written instrument or declaration of trust, the beneficial interest under which is divided into transferable certificates of participation or shares, other than a trust established for the sole purpose of exercising the voting rights pertaining to corporate stock or other securities in accordance with the terms of a written instrument.
MA Gen L ch 182 § 2 (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title XXII - Corporations|Chapter 182 - Voluntary Associations and Certain Trusts|Section 2 - Filing of Copy of Written Instrument or Declaration of Trust; Fee; Amendments; Violations; Consolidation or Merger

Section 2. The trustees of an association or trust shall file a copy of the written instrument or declaration of trust creating it with the secretary and with the clerk of every city or town where such association or trust has a usual place of business. The fee for filing said copy with the secretary shall be determined annually by the commissioner of administration under the provision of section three B of chapter seven and for filing said copy or any amendment thereof with the said clerk the fee as provided by clause (75) of section thirty-four of chapter two hundred and sixty-two. Such trustees shall also, within thirty days after the adoption of any amendment thereof, file a copy of said amendment with said secretary and said clerk. The trustees of every association or trust, whose written instrument or declaration of trust creating it is not filed as required in this section shall be punished by a fine of not more than five hundred dollars or by imprisonment for not more than three months.  An association or trust may consolidate or merge with or into one or more domestic limited liability companies, as defined in section two of chapter one hundred and fifty-six C in the manner described, and with the effects set forth in said chapter one hundred and fifty-six C.  The trustees of an association or trust which is not the resulting or surviving entity in any such consolidation or merger shall file (1) a copy of the certificate of consolidation or merger with the secretary if no other entity which is a party to the transaction has done so within thirty days after the effective date of such transaction, and (2) a copy with the clerk of every city or town where such association or trust has a usual place of business.  The fee for filing such copy with the secretary shall be the fee determined annually by the commissioner of administration under the provision of section three B of chapter seven, and for filing with said clerk the fee as provided by clause (75) of section thirty-four of chapter two hundred and sixty-two.
MA Gen L ch 182 § 2a (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title XXII - Corporations|Chapter 182 - Voluntary Associations and Certain Trusts|Section 2a - Names of or Similar to Other Businesses; Enjoining Violations

Section 2A. No association or trust shall assume the name of any corporation established under the laws of the commonwealth, or of a corporation, firm, or association or trust whether or not as defined in section one, or of an individual, carrying on business in the commonwealth at the time when the association or trust is created or within three years prior thereto, or assume a name so similar thereto as to be likely to be mistaken for it, except with the written consent of such existing corporation, firm, association or trust or of such individual, previously filed with the secretary; and the secretary shall refuse to receive for filing the written instrument or declaration of trust of an association or trust if it appears to him to have assumed a name in violation hereof. The supreme judicial or superior court shall have jurisdiction in equity, upon the application of any person interested or affected, to enjoin an association or trust from doing business under any name assumed in violation hereof, although the written instrument or declaration of trust of such association or trust has been received for filing as aforesaid.
MA Gen L ch 182 § 2b (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title XXII - Corporations|Chapter 182 - Voluntary Associations and Certain Trusts|Section 2b - Investment Company Trust; Trustee

Section 2B. This section shall apply to a trust that is an investment company, as defined in the Investment Company Act of 1940, and that is registered thereunder with the United States Securities and Exchange Commission.  A trustee of a trust who with respect to the trust is not an interested person, as defined in said Investment Company Act of 1940, shall be deemed to be independent and disinterested when making any determination or taking any action as a trustee.
MA Gen L ch 182 § 3 (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title XXII - Corporations|Chapter 182 - Voluntary Associations and Certain Trusts|Section 3 - Trusts Owning or Controlling Certain Public Utilities; Filing Copy of Declaration of Trust

Section 3. The trustees of an association or trust who own or control a majority of the capital stock of a railroad, street railway, electric railroad, elevated railway, gas, electric or water company, or corporation engaged in the common carriage of passengers by motor vehicle shall also file a copy of the written instrument or declaration of trust creating it with the department and shall also within thirty days after the adoption of any amendment of such instrument or declaration file a copy thereof with the department. Every such trustee who fails to comply with the foregoing requirements shall be punished by a fine of not more than five hundred dollars or by imprisonment for three months.
MA Gen L ch 182 § 4 (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title XXII - Corporations|Chapter 182 - Voluntary Associations and Certain Trusts|Section 4 - Trusts Owning or Controlling Certain Public Utilities; Annual Statement

Section 4. The trustees of an association or trust who own or control a majority of the capital stock of a railroad, street railway, electric railroad, elevated railway, gas, electric or water company, or corporation engaged in the common carriage of passengers by motor vehicle shall annually on or before April first file with the secretary and with the department a statement showing the number of shares of such company or corporation owned or controlled by them and the stockholders of record on the books of such company or corporation in whose names such shares are held. Every such trustee who fails to comply with this section shall be punished by a fine of not more than five hundred dollars or by imprisonment for three months.
MA Gen L ch 182 § 5a (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title XXII - Corporations|Chapter 182 - Voluntary Associations and Certain Trusts|Section 5a - Trusts; Professional Relationships

Section 5A. If a trust is formed under this chapter for the purpose of rendering one or more professional services as defined in chapter one hundred and fifty-six A, the relationship between the trust or a trustee or employee thereof rendering professional service and the person receiving such service shall be the same as if such trust or trustee or employee rendered such service to said person as an individual practitioner, including any liability arising out of the rendering of such service.
MA Gen L ch 182 § 6 (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title XXII - Corporations|Chapter 182 - Voluntary Associations and Certain Trusts|Section 6 - Suits Against Associations or Trusts; Seals

Section 6. An association or trust may be sued in an action at law for debts and other obligations or liabilities contracted or incurred by the trustees, or by the duly authorized agents of such trustees, or by any duly authorized officer of the association or trust, in the performance of their respective duties under such written instruments or declarations of trust, and for any damages to persons or property resulting from the negligence of such trustees, agents or officers acting in the performance of their respective duties, and its property shall be subject to attachment and execution in like manner as if it were a corporation, and service of process upon one of the trustees shall be sufficient.  An association or trust may have a seal, which it may alter at pleasure, and which may be used by the trustee or trustees of such association or trust as his or their seal. An impression of a seal purporting to be the seal of such an association or trust shall be sufficient for all purposes without the use of a wafer or wax.
MA Gen L ch 182 § 7 (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title XXII - Corporations|Chapter 182 - Voluntary Associations and Certain Trusts|Section 7 - Investigation or Examination of Trusts Owning or Holding Stock in Certain Public Utilities; Access to Information

Section 7. The department may by its members or duly authorized employees investigate and examine the books, accounts, contracts, records and memoranda of the trustees of any association or trust, who own or hold the capital stock or any part thereof of a railroad, street railway, electric railroad or elevated railway corporation, gas, electric or water company, or corporation engaged in the common carriage of passengers by motor vehicle, and may require said trustees to furnish such reports and information as the department shall from time to time direct with respect to the relations and dealings between such trustees and any such corporation or company.
MA Gen L ch 182 § 8 (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title XXII - Corporations|Chapter 182 - Voluntary Associations and Certain Trusts|Section 8 - Investigation or Examination of Businesses Under Same Ownership, Control or Management as Certain Public Utilities; Access to Information

Section 8. The department may by its members or duly authorized employees investigate and examine the books, accounts, contracts, records and memoranda of any partnership, express trust, voluntary association or corporation which is under the same ownership, control or management as a railroad, street railway, electric railroad or elevated railway corporation, gas, electric or water company, or company engaged in the common carriage of passengers by motor vehicle, in respect of the relations and of any contracts and dealings between such railroad, street railway, electric railroad or elevated railway corporation, gas, electric or water company, or company engaged in the common carriage of passengers by motor vehicle and such partnership, express trust, voluntary association or corporation, and in relation thereto may require from such partnership, express trust, voluntary association or corporation such reports and information as the department shall from time to time direct.
MA Gen L ch 182 § 9 (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title XXII - Corporations|Chapter 182 - Voluntary Associations and Certain Trusts|Section 9 - Refusal to Submit to Investigation or Examination

Section 9. A railroad, street railway, electric railroad, elevated railway, gas, electric or water company, or corporation engaged in the common carriage of passengers by motor vehicle, or a partnership or corporation or the trustees of an express trust or voluntary association, described in sections seven and eight, which refuses or neglects to submit its or their books, accounts, contracts, records and memoranda to the investigation and examination of the department, or to furnish such reports and information as it shall from time to time direct and require, shall be punished by a fine of not more than five thousand dollars.
MA Gen L ch 182 § 10 (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title XXII - Corporations|Chapter 182 - Voluntary Associations and Certain Trusts|Section 10 - Jurisdiction in Equity

Section 10. The supreme judicial court shall have jurisdiction in equity to enforce compliance with the three preceding sections, and with all orders of the department made under authority thereof.
MA Gen L ch 182 § 11 (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title XXII - Corporations|Chapter 182 - Voluntary Associations and Certain Trusts|Section 11 - Application of Chapter to Rates or Services

Section 11. Nothing contained in this chapter shall be construed as authorizing, requiring or justifying the department in making any recommendations, rulings or orders with respect to the rates charged or the service furnished by any corporation subject to its supervision, to take into consideration in any respect whatsoever any certificates of participation or shares issued under a declaration of trust and representing the beneficial interest in the stock, bonds, notes or other securities of such corporation, or the investment in such certificates or shares.
MA Gen L ch 182 § 12 (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title XXII - Corporations|Chapter 182 - Voluntary Associations and Certain Trusts|Section 12 - Annual Reports

Section 12. Every association or trust shall annually on or before June first file with the state secretary a report signed under the penalties of perjury by its trustees stating (a) the name of the association or trust; (b) the location (with street address) of its principal office in this commonwealth and elsewhere if the trust or association does business outside the commonwealth; (c) the number of its issued and outstanding transferable certificates of participation or shares; and (d) the names and addresses of its trustees.
MA Gen L ch 182 § 13 (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title XXII - Corporations|Chapter 182 - Voluntary Associations and Certain Trusts|Section 13 - Examination of Report; Approval; Endorsement; Filing; Fee

Section 13. The state secretary shall examine such report, and if he finds that it conforms to the requirements of this chapter, he shall endorse his approval thereon, and upon the payment of a fee to be determined annually by the commissioner of administration under the provision of section three B of chapter seven shall cause this report to be filed in his office in book form for convenient reference, and open to public inspection.