Subject to § 29-1205.07, a beneficial owner or related party of a beneficial owner may lend money to, borrow money from, act as a surety, guarantor, or endorser for, guarantee or assume an obligation of, provide collateral for, or do other business with the statutory trust and, subject to law other than this chapter, shall have the same rights and obligations with respect to a matter as a person that is not a beneficial owner.
(July 2, 2011, D.C. Law 18-378, § 2, 58 DCR 1720.)
Uniform Law: This section is based on § 607 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