New Mexico Statutes Chapter 53. Corporations § 53-20-2. Definitions

A. “business trust” means an entity engaged in a trade or business that is created by a declaration of trust that transfers property to trustees, to be held and managed by them for the benefit of persons holding certificates representing the beneficial interest in the trust estate and assets; and

B. “foreign business trust” means a business trust formed under the laws of a state other than New Mexico.