A statutory trust may hold or take title to property in its own name or in the name of a trustee in the trustee’s capacity as trustee, whether in an active, passive, or custodial capacity.
(July 2, 2011, D.C. Law 18-378, § 2, 58 DCR 1720.)
Uniform Law: This section is based on § 307 of the Uniform Statutory Trust Entity Act.
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