(a) To form a statutory trust, a person shall deliver a certificate of trust to the Mayor for filing.
(b) A certificate of trust shall state:
(1) The name of the statutory trust, which must comply with §§ 29-103.01 and 29-103.02(i);
(2) The street and mailing address of the principal office of the trust;
(3) The name and street and mailing address of the registered agent of the trust; and
(4) If the trust may have one or more series, a statement to that effect.
(c) A certificate of trust may contain any term in addition to those required by subsection (b) of this section but may not vary or otherwise affect the provisions specified in § 29-1201.04 in a manner that is inconsistent with that section.
(d) A statutory trust is formed when the certificate of trust becomes effective.
(e) A filed certificate of trust, a filed statement of cancellation or change, or articles filed under subchapter VII of this chapter or Chapter 2 of this title prevail over inconsistent terms of a trust instrument.
(July 2, 2011, D.C. Law 18-378, § 2, 58 DCR 1720; Mar. 5, 2013, D.C. Law 19-210, § 2(l)(3)(A), 59 DCR 13171.)
Section ReferencesThis section is referenced in § 29-101.06, § 29-1201.02, § 29-1204.01, and § 29-1209.01.
Effect of AmendmentsThe 2013 amendment by D.C. Law 19-210 deleted “initial” preceding “registered” in (b)(3); added “but may not vary or otherwise affect the provisions specified in § 29-1201.04 in a manner that is inconsistent with that section” at the end of (c); rewrote (d); and substituted “articles filed under subchapter VII of this chapter or Chapter 2 of this title” for “filed articles of conversion or merger shall” in (e).
Editor's NotesUniform Law: This section is based on § 201 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.