A statutory trust may acquire, by purchase, redemption, or otherwise, any beneficial interest in the trust or series thereof. A beneficial interest acquired under this section shall be canceled.
(July 2, 2011, D.C. Law 18-378, § 2, 58 DCR 1720.)
Uniform Law: This section is based on § 605 of the Uniform Statutory Trust Entity Act.
Structure District of Columbia Code
Title 29 - Business Organizations. [Enacted title]
Subchapter VI - Beneficial Owners
§ 29–1206.01. Beneficial interest
§ 29–1206.02. Voting or consent by beneficial owners
§ 29–1206.03. Contribution by beneficial owner
§ 29–1206.04. Distribution to beneficial owner
§ 29–1206.05. Redemption of beneficial interest
§ 29–1206.06. Transfer of beneficial interest
§ 29–1206.07. Transaction with beneficial owner
§ 29–1206.08. Beneficial owner’s right to information
§ 29–1206.09. Direct action by beneficial owner
§ 29–1206.10. Derivative action by beneficial owner
§ 29–1206.11. Proper plaintiff
§ 29–1206.13. Proceeds and expenses
§ 29–1206.14. Special litigation committee