Hey nostr:npub1cwhy4k8qd2guyqz8t45u4yzyp4k4fhnjn573ukh6e77mde2dgm9s2lujc5 

Thanks for the question!

Think of the “Private express trust” (PET) as the vehicle or framework…

An unincorporated business entity (UBO) and (PMA) private member association are like seats in the car.

They are not mutually exclusive and can in fact be mutually inclusive!

A private express trust can be written in a way which it includes UBO and PMA aspects.

The thing to remember is the three tiers of “law”.

1. Equitable
2. Common
3. Contract

By their nature PETs are equitable and common, in that they are treated as living entities. 

As such they are based upon “intent” and the grantor and exchanger get to write the rules / laws of the trust. Thus, they can be written in a way that they are able to contract with others. This is the UBO/PMA aspect