Definition of trust certificate
: a certificate issued and sold as one of a series by the trustee of designated trust property (as an investment trust, railroad equipment, or business trust) legally held evidencing a specified fractional equitable or beneficial interest in the trust property existing in the holder or registered owner of the certificate, incorporating the particular trust agreement, setting forth the principal rights of the certificate owner to share in the income, profits, or gains realized from the trust property and in any current or future distributions of it, and prescribing the mode of transfer of the certificate
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