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Subchapter I - General Provisions
§ 29–1201.01. Short title - This chapter may be cited as the “Uniform Statutory Trust...
§ 29–1201.02. Definitions - For the purposes of the chapter, the term: (1) “Beneficial...
§ 29–1201.03. Governing instrument: scope, limitations, and amendment - (a) Except as otherwise provided in § 29-1201.04, the governing...
§ 29–1201.04. Mandatory rules - The governing instrument shall not: (1) Vary any requirement, procedure,...
§ 29–1201.05. Applicability of trust law - The law of the District pertaining to common-law trusts shall...
§ 29–1201.06. Rule of construction - (a) This chapter shall be liberally construed to give maximum...
§ 29–1201.07. Constructive notice - A person that is not a beneficial owner is deemed...
Subchapter II - Formation; Certificate of Trust and Other Filings; Process
§ 29–1202.01. Certificate of trust - (a) To form a statutory trust, a person shall deliver...
§ 29–1202.02. Amendment or restatement of certificate of trust; statement of correction - (a) A certificate of trust may be amended or restated...
§ 29–1202.03. Signing of records - (a) A record delivered by the statutory trust to the...
§ 29–1202.04. Signing and filing pursuant to judicial order - (a) If a person required by this title to sign...
§ 29–1202.05. Liability for inaccurate information in filed record - (a) If a record delivered to the Mayor for filing...
Subchapter III - Governing Law; Authorization; Duration; Powers
§ 29–1203.01. Governing law - The law of the District shall govern the: (1) Internal...
§ 29–1203.02. Statutory trust as entity - A statutory trust is an entity separate from its trustees...
§ 29–1203.03. Permissible purposes - (a) Except as otherwise provided in subsection (b) of this...
§ 29–1203.04. Limitation on liability of trustees and beneficial owners - (a) A debt, obligation, or other liability of a statutory...
§ 29–1203.05. No creditor rights in trust property - A creditor of a beneficial owner or trustee shall not...
§ 29–1203.06. Duration - (a) Except as otherwise provided in its certificate of trust,...
§ 29–1203.07. Power to hold property; title to trust property - A statutory trust may hold or take title to property...
§ 29–1203.08. Power to sue and be sued - A statutory trust may sue and be sued in its...
Subchapter IV - Series Trusts
§ 29–1204.01. Statutory trust having series - (a) The governing instrument may provide for the creation by...
§ 29–1204.02. Liability of series trust - (a) In a series trust, a debt, obligation, or other...
§ 29–1204.03. Duties of trustee in series trust - If there is at least one trustee of a series...
§ 29–1204.04. Dissolution of series - (a) A series of a series trust may be dissolved...
§ 29–1204.05. Claims pertaining to a series - (a) A series of a statutory trust may not sue...
Subchapter V - Trustees and Trust Management
§ 29–1205.01. Management of statutory trust - The activities and affairs of a statutory trust shall be...
§ 29–1205.02. Trustee powers - A trustee may exercise: (1) Powers conferred by the governing...
§ 29–1205.03. Action by trustees - On any matter that is to be acted on by...
§ 29–1205.04. Protection of person dealing with trustee - (a) A person that in good faith assists a trustee,...
§ 29–1205.05. Standards of conduct for trustees - (a) Subject to § 29-1204.03, in exercising the powers of...
§ 29–1205.06. Reasonable reliance - A trustee, officer, employee, manager, or committee of a statutory...
§ 29–1205.07. Interested transactions - (a) For the purposes of this section, the term “covered...
§ 29–1205.08. Trustee’s right to information - A trustee shall have the right to receive from a...
§ 29–1205.09. Reimbursement, indemnification, advancement, and exoneration - (a) A statutory trust shall reimburse a trustee for any...
§ 29–1205.10. Direction of trustees - (a) The governing instrument may authorize any person, including a...
§ 29–1205.11. Delegation by trustee - (a) A trustee may delegate duties and powers. The trustee...
§ 29–1205.12. Independent trustee in registered investment company - (a) For the purposes of this section, the term “affiliated...
Subchapter VI - Beneficial Owners
§ 29–1206.01. Beneficial interest - (a) A beneficial interest in a statutory trust is personal...
§ 29–1206.02. Voting or consent by beneficial owners - On any matter that is to be acted on by...
§ 29–1206.03. Contribution by beneficial owner - (a) A contribution of a beneficial owner to a statutory...
§ 29–1206.04. Distribution to beneficial owner - (a) When a beneficial owner becomes entitled to receive a...
§ 29–1206.05. Redemption of beneficial interest - A statutory trust may acquire, by purchase, redemption, or otherwise,...
§ 29–1206.06. Transfer of beneficial interest - (a) For the purposes of this section, “covered creditor” means...
§ 29–1206.07. Transaction with beneficial owner - Subject to § 29-1205.07, a beneficial owner or related party...
§ 29–1206.08. Beneficial owner’s right to information - A beneficial owner shall have the right to receive from...
§ 29–1206.09. Direct action by beneficial owner - A beneficial owner may maintain a direct action against a...
§ 29–1206.10. Derivative action by beneficial owner - A beneficial owner may maintain a derivative action to enforce...
§ 29–1206.11. Proper plaintiff - A derivative action to enforce a right of a statutory...
§ 29–1206.12. Pleading - In a derivative action to enforce a right of a...
§ 29–1206.13. Proceeds and expenses - (a) Except as otherwise provided in subsection (b) of this...
§ 29–1206.14. Special litigation committee - (a) If a statutory trust is named as or made...
§ 29–1206.15. Limitations on distributions - (a) A statutory trust may not make a distribution, including...
§ 29–1206.16. Liability for improper distributions - (a) If a trustee of a statutory trust consents to...
Subchapter VII - Merger
§ 29–1207.01. Definitions - For the purposes of this subchapter, the term: (1) “Constituent...
§ 29–1207.02. Merger - (a) A statutory trust may merge with one or more...
§ 29–1207.03. Action on plan of merger by constituent statutory trust - (a) A plan of merger shall be consented to by...
§ 29–1207.04. Filings required for merger; effective date - (a) After each constituent organization has approved a merger, articles...
§ 29–1207.05. Effect of merger - (a) When a merger becomes effective: (1) The surviving organization...
§ 29–1207.06. Chapter not exclusive - This chapter shall not preclude an organization from being merged...
Subchapter VIII - Dissolution and Winding Up
§ 29–1208.01. Events causing dissolution - A statutory trust shall be dissolved only by: (1) An...
§ 29–1208.02. Articles of dissolution - (a) If dissolution of a statutory trust is authorized under...
§ 29–1208.03. Winding up - (a) A dissolved statutory trust shall wind up its activities...
§ 29–1208.04. Known claims against dissolved statutory trust - (a) Except as otherwise provided in subsection (c) of this...
§ 29–1208.05. Other claims against dissolved statutory trust - (a) A dissolved statutory trust may publish notice of its...
§ 29–1208.06. Court proceedings - (a) A dissolved statutory trust that has published a notice...
Subchapter IX - Transition Provisions
§ 29–1209.01. Application to existing relationships - (a) This chapter shall not limit, prohibit, or invalidate the...