Business trust to have perpetual existence--Termination determined by governing instrument.

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47-14A-35. Business trust to have perpetual existence--Termination determined by governing instrument.

Except to the extent otherwise provided in the governing instrument of the business trust, a business trust shall have perpetual existence, and a business trust may not be terminated or revoked by a beneficial owner or other person except in accordance with the terms of its governing instrument.

Source: SL 2001, ch 245, §35.


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