District of Columbia § 29-1203.06 Duration.

District of Columbia Statutes

§ 29-1203.06 — Duration.

District of Columbia § 29-1203.06

Title 29Business Organizations. [Enacted title]

Ch. 12Statutory Trusts.

Subch. IIIGoverning Law; Authorization; Duration; Powers.

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Bluebook

D.C. Code § 29-1203.06 (2026).

Text

(a)Except as otherwise provided in its certificate of trust, a statutory trust:

(1)Has perpetual duration; and

(2)May not be terminated or revoked except in accordance with this chapter or the terms of the trust’s certificate of trust.

(b)A series of a statutory trust may not be terminated or revoked except in accordance with this chapter or the terms of the governing instrument.

(c)The death, incapacity, dissolution, termination, or bankruptcy of a beneficial owner , trustee, or person designated under § 29-1201.03(e)(8) or (9) does not result in the termination or dissolution of a statutory trust or any series thereof.

(d)A statutory trust or any series thereof shall not terminate because the same person is the sole trustee and sole beneficial owner.

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(a) Except as otherwise provided in its certificate of trust, a statutory trust:

(1) Has perpetual duration; and

(2) May not be terminated or revoked except in accordance with this chapter or the terms of the trust’s certificate of trust.

(b) A series of a statutory trust may not be terminated or revoked except in accordance with this chapter or the terms of the governing instrument.

(c) The death, incapacity, dissolution, termination, or bankruptcy of a beneficial owner , trustee, or person designated under § 29-1201.03(e)(8) or (9) does not result in the termination or dissolution of a statutory trust or any series thereof.

(d) A statutory trust or any series thereof shall not terminate because the same person is the sole trustee and sole beneficial owner.