Transaction with beneficial owner

  1. Law
  2. District of Columbia Code
  3. Business Organizations. [Enacted title]
  4. Statutory Trusts
  5. Beneficial Owners
  6. Transaction with beneficial owner

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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.)

Editor's Notes

Uniform Law: This section is based on § 607 of the Uniform Statutory Trust Entity Act.


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