The activities and affairs of a statutory trust shall be managed by or under the authority of its trustees.
(July 2, 2011, D.C. Law 18-378, § 2, 58 DCR 1720; Mar. 5, 2013, D.C. Law 19-210, § 2(l)(6)(A), 59 DCR 13171.)
The 2013 amendment by D.C. Law 19-210 substituted “activities” for “business.”
Uniform Law: This section is based on § 501 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 V - Trustees and Trust Management
§ 29–1205.01. Management of statutory trust
§ 29–1205.03. Action by trustees
§ 29–1205.04. Protection of person dealing with trustee
§ 29–1205.05. Standards of conduct for trustees
§ 29–1205.06. Reasonable reliance
§ 29–1205.07. Interested transactions
§ 29–1205.08. Trustee’s right to information
§ 29–1205.09. Reimbursement, indemnification, advancement, and exoneration
§ 29–1205.10. Direction of trustees
§ 29–1205.11. Delegation by trustee
§ 29–1205.12. Independent trustee in registered investment company