The law of the District shall govern the:
(1) Internal affairs of a statutory trust;
(2) Liability of a beneficial owner as beneficial owner , a trustee as trustee, and a person appointed, elected, or engaged under § 29-1201.03(e)(8) or (9) for a debt, obligation, or other liability of a statutory trust or a series thereof; and
(3) Enforceability of a debt, obligation, or other liability of the statutory trust or a series thereof against the property of the trust or any series thereof.
(July 2, 2011, D.C. Law 18-378, § 2, 58 DCR 1720; Mar. 5, 2013, D.C. Law 19-210, § 2(l)(4)(A), 59 DCR 13171.)
This section is referenced in § 29-1201.04.
The 2013 amendment by D.C. Law 19-210 substituted “a trustee as trustee, and a person appointed, elected, or engaged under § 29-1201.03(e)(8) or (9)” for “and a trustee as trustee” in (2).
Uniform Law: This section is based on § 301 of the Uniform Statutory Trust Entity Act.
Application of Law 19-210: Section 7 of D.C. Law 19-210 provided that the act shall apply as of January 1, 2012.
Structure District of Columbia Code
Title 29 - Business Organizations. [Enacted title]
Subchapter III - Governing Law; Authorization; Duration; Powers
§ 29–1203.02. Statutory trust as entity
§ 29–1203.03. Permissible purposes
§ 29–1203.04. Limitation on liability of trustees and beneficial owners
§ 29–1203.05. No creditor rights in trust property
§ 29–1203.07. Power to hold property; title to trust property