In this case, since you are purchasing the right to manage a Trust, you should be the Managing Director, or at least one of them, unless you are purchasing it for someone else. Think of it as paying a fee to an employment agency. The job that you will be offered will be Managing Director of a Pure Contract Trust. By the way, if you plan to have more than one Managing Director, you will have to have consensus of all Managing Directors before you take any official Trust action. You may want to consider this limitation when deciding who you want to be a Managing Director.
Copyright at Common Law, West El Paso Information Network, 1997