§ 12-202

Maryland § 12-202

• Jurisdiction: Maryland
• Article gca: Corporations and Associations
• Title: 12

Text

(a) Except as provided in its governing instrument, a statutory trust:

(1) Shall have perpetual existence; and

(2) May not be terminated or revoked by a beneficial owner or other person except in accordance with the terms of the governing instrument of the statutory trust.

(b) Except as provided in the governing instrument of a statutory trust, the death, incapacity, dissolution, termination, or bankruptcy of a beneficial owner shall not result in the termination or dissolution of a statutory trust.