unitrust

noun
uni·trust | \ ˈyü-ni-ˌtrəst \

Definition of unitrust 

: a trust from which the beneficiary receives annually a fixed percentage of the fair market value of its assets

First Known Use of unitrust

1970, in the meaning defined above

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The first known use of unitrust was in 1970

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unitrust

Legal Definition of unitrust 

see trust

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