Governing law

1. Law
2. District of Columbia Code
3. Business Organizations. [Enacted title]
4. Statutory Trusts
5. Governing Law; Authorization; Duration; Powers
6. Governing law

The law of the District shall govern the:

(1) Internal affairs of a statutory trust;

(2) Liability of a beneficial owner as beneficial owner , a trustee as trustee, and a person appointed, elected, or engaged under § 29-1201.03(e)(8) or (9) for a debt, obligation, or other liability of a statutory trust or a series thereof; and

(3) Enforceability of a debt, obligation, or other liability of the statutory trust or a series thereof against the property of the trust or any series thereof.

(July 2, 2011, D.C. Law 18-378, § 2, 58 DCR 1720; Mar. 5, 2013, D.C. Law 19-210, § 2(l)(4)(A), 59 DCR 13171.)

Section References

This section is referenced in § 29-1201.04.

Effect of Amendments

The 2013 amendment by D.C. Law 19-210 substituted “a trustee as trustee, and a person appointed, elected, or engaged under § 29-1201.03(e)(8) or (9)” for “and a trustee as trustee” in (2).

Editor's Notes

Uniform Law: This section is based on § 301 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.

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