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Exhibit 99.9
BROWN & WOOD LLP
ONE WORLD TRADE CENTER
NEW YORK, N.Y. 10048
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<S> <C> <C>
555 CALIFORNIA STREET 815 CONNECTICUT AVENUE. N.W.
SAN FRANCISCO. CA. 94104 WASHINGTON. D.C. 20006
TELEPHONE: 415-398-3909 TELEPHONE 212-839-5300 TELEPHONE 202-223-0220
FACSIMILE: 415-397-4621 FACSIMILE: 212-839-5599 FACSIMILE. 202-223-0485
10900 WILSHIRE BOULEVARD BLACKWELL HOUSE
LOS ANGELES. CA. 90024 GUILDHALL YARD
TELEPHONE 213 208-4343 LONDON EC2V 5AB
FACSIMILE 213-208-5740 TELEPHONE: 071-606-1888
FACSIMILE: 071-796-1807
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March 28, 1991
CMA Treasury Fund
Box 9011
Princeton, New Jersey 08543-9011
Dear Sirs:
This opinion is furnished in connection with the registration by CMA
Treasury Fund, a Massachusetts business trust (the "Fund"), of an indefinite
number of shares of beneficial interest, par value $0.10 per share (the
"Shares"), under the Securities Act of 1933 pursuant to a registration statement
on Form N-1A (File No. 33-37439), as amended (the "Registration Statement").
As counsel for the Fund, we are familiar with the proceedings taken by it
in connection with the authorization issuance and sale of the Shares. In
addition, we have examined and are familiar with the Declaration of Trust of the
Fund, the
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By-Laws of the Fund and such other documents as we have deemed relevant to the
matters referred to in this opinion.
Based upon the foregoing, we are of the opinion that the Shares, upon
issuance and sale in the manner referred to in the Registration Statement for
consideration not less than the par value thereof, will be legally issued, fully
paid an non-assessable shares of beneficial interest of the Fund.
In rendering this opinion, we have relied as to matters of Massachusetts
law upon an opinion of Gaston & Snow, dated March 28, 1991, rendered to the
Fund.
We hereby consent to the filing of this opinion as an exhibit to the
Registration Statement and to the use of our name in the prospectus and
statement of additional information constituting parts thereof.
Very truly yours,
/s/ Brown & Wood LLP
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