A statutory trust is an entity separate from its trustees and beneficial owners.
(July 2, 2011, D.C. Law 18-378, § 2, 58 DCR 1720; Mar. 5, 2013, D.C. Law 19-210, § 2(l)(4)(B), 59 DCR 13171.)
The 2013 amendment by D.C. Law 19-210 substituted “is” for “shall be.”
Uniform Law: This section is based on § 302 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