Maryland Statutes
Subtitle 2 - Formation and Powers
Section 12-202 - Perpetual Existence; Dissolution; Winding Up; Claims and Obligations

(a)    Except as provided in its governing instrument, a statutory trust:
        (1)    Shall have perpetual existence; and
        (2)    May not be terminated or revoked by a beneficial owner or other person except in accordance with the terms of the governing instrument of the statutory trust.
    (b)    Except as provided in the governing instrument of a statutory trust, the death, incapacity, dissolution, termination, or bankruptcy of a beneficial owner shall not result in the termination or dissolution of a statutory trust.

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