District of Columbia § 19-1119 Applicable law.

District of Columbia Statutes

§ 19-1119 — Applicable law.

District of Columbia·Title 19 Descent, Distribution, and Trusts. [Enacted title]·Ch. 11 Custodial Trusts; Uniform Law.

(a)This chapter applies to a transfer or declaration creating a custodial trust that refers to this chapter if, at the time of the transfer or declaration, the transferor, beneficiary, or custodial trustee is a resident of or has its principal place of business in the District of Columbia or custodial trust property is located in the District of Columbia. The custodial trust remains subject to this chapter despite a later change in residence or principal place of business of the transferor, beneficiary, or custodial trustee, or removal of the custodial trust property from the District of Columbia.

(b)A transfer made pursuant to an act of another state substantially similar to this chapter is governed by the law of that state and may be enforced in the District of Columbia.

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(a) This chapter applies to a transfer or declaration creating a custodial trust that refers to this chapter if, at the time of the transfer or declaration, the transferor, beneficiary, or custodial trustee is a resident of or has its principal place of business in the District of Columbia or custodial trust property is located in the District of Columbia. The custodial trust remains subject to this chapter despite a later change in residence or principal place of business of the transferor, beneficiary, or custodial trustee, or removal of the custodial trust property from the District of Columbia.

(b) A transfer made pursuant to an act of another state substantially similar to this chapter is governed by the law of that state and may be enforced in the District of Columbia.

District of Columbia § 19-1119 (Applicable law.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.