(a) Upon motion by the Attorney General, the Court of Chancery shall have jurisdiction to cancel the certificate of trust of any statutory trust for abuse or misuse of its statutory trust powers, privileges or existence. The Attorney General shall proceed for this purpose in the Court of Chancery.
(b) The Court of Chancery shall have power, by appointment of trustees, receivers or otherwise, to administer and wind up the affairs of any statutory trust whose certificate of trust shall be canceled by the Court of Chancery under this section, and to make such orders and decrees with respect thereto as shall be just and equitable respecting its affairs and assets and the rights of its beneficial owners, trustees and creditors.
Structure Delaware Code
Title 12 - Decedents' Estates and Fiduciary Relations
Chapter 38. TREATMENT OF DELAWARE STATUTORY TRUSTS
Subchapter I. Domestic Statutory Trusts
§ 3802. Contributions by beneficial owners.
§ 3803. Liability of beneficial owners and trustees.
§ 3805. Rights of beneficial owners and trustees in trust property.
§ 3806. Management of statutory trust.
§ 3807. Trustee in State; registered agent [Effective until Aug. 1, 2023].
§ 3807. Trustee in State; registered agent [Effective Aug. 1, 2023].
§ 3808. Existence of statutory trust.
§ 3809. Applicability of trust law.
§ 3810. Certificate of trust; amendment; restatement; cancellation.
§ 3812. Filing of certificate.
§ 3813. Fees [Effective until Aug. 1, 2023].
§ 3813. Fees [Effective Aug. 1, 2023].
§ 3814. Use of names regulated.
§ 3815. Merger and consolidation.
§ 3819. Access to and confidentiality of information; records.
§ 3820. Conversion of other business entities to a statutory trust.
§ 3821. Conversion of a statutory trust.
§ 3822. Domestication of non-United States entities.
§ 3823. Transfer or continuance of domestic statutory trusts.
§ 3824. Judicial cancellation of certificate of trust; proceedings.
§ 3825. Division of a statutory trust.
§ 3826. Document form, signature and delivery.
§ 3828. Construction and application of chapter and governing instrument.