Code of the District of Columbia

Subchapter III. Governing Law; Authorization; Duration; Powers.


§ 29–1203.01. Governing law.

The law of the District shall govern the:

(1) Internal affairs of a statutory trust;

(2) Liability of a beneficial owner as beneficial owner , a trustee as trustee, and a person appointed, elected, or engaged under § 29-1201.03(e)(8) or (9) for a debt, obligation, or other liability of a statutory trust or a series thereof; and

(3) Enforceability of a debt, obligation, or other liability of the statutory trust or a series thereof against the property of the trust or any series thereof.


(July 2, 2011, D.C. Law 18-378, § 2, 58 DCR 1720; Mar. 5, 2013, D.C. Law 19-210, § 2(l)(4)(A), 59 DCR 13171.)

Section References

This section is referenced in § 29-1201.04.

Effect of Amendments

The 2013 amendment by D.C. Law 19-210 substituted “a trustee as trustee, and a person appointed, elected, or engaged under § 29-1201.03(e)(8) or (9)” for “and a trustee as trustee” in (2).

Editor's Notes

Uniform Law: This section is based on § 301 of the Uniform Statutory Trust Entity Act.

Application of Law 19-210: Section 7 of D.C. Law 19-210 provided that the act shall apply as of January 1, 2012.


§ 29–1203.02. Statutory trust as entity.

A statutory trust is an entity separate from its trustees and beneficial owners.


(July 2, 2011, D.C. Law 18-378, § 2, 58 DCR 1720; Mar. 5, 2013, D.C. Law 19-210, § 2(l)(4)(B), 59 DCR 13171.)

Effect of Amendments

The 2013 amendment by D.C. Law 19-210 substituted “is” for “shall be.”

Editor's Notes

Uniform Law: This section is based on § 302 of the Uniform Statutory Trust Entity Act.

Application of Law 19-210: Section 7 of D.C. Law 19-210 provided that the act shall apply as of January 1, 2012.


§ 29–1203.03. Permissible purposes.

(a) Except as otherwise provided in subsection (b) of this section, a statutory trust may be formed for and may have any lawful purpose, regardless of whether for profit.

(b) A statutory trust may not have a predominantly donative purpose.


(July 2, 2011, D.C. Law 18-378, § 2, 58 DCR 1720; Mar. 5, 2013, D.C. Law 19-210, § 2(l)(4)(C), 59 DCR 13171.)

Section References

This section is referenced in § 29-1201.04.

Effect of Amendments

The 2013 amendment by D.C. Law 19-210 added “regardless of whether for profit” at the end of (a); and substituted “may” for “shall” in (b).

Editor's Notes

Uniform Law: This section is based on § 303 of the Uniform Statutory Trust Entity Act.

Application of Law 19-210: Section 7 of D.C. Law 19-210 provided that the act shall apply as of January 1, 2012.


§ 29–1203.04. Limitation on liability of trustees and beneficial owners.

(a) A debt, obligation, or other liability of a statutory trust or series thereof shall be solely a debt, obligation, or other liability of the trust or series thereof. A beneficial owner, trustee, or person designated pursuant to § 29-1201.03(e)(8) or (9) is not personally liable, directly or indirectly, by way of contribution or otherwise, for a debt, obligation, or other liability of the trust or series thereof solely by reason of being or acting as a trustee, beneficial owner, or person designated pursuant to § 29-1201.03(e)(8) or (9. This subsection applies regardless of the dissolution of the statutory trust.

(b) Except as otherwise provided in subchapter IV of this chapter, property of a statutory trust held in the name of the trust or by the trustee in the trustee’s capacity as trustee shall be subject to attachment and execution to satisfy a debt, obligation, or other liability of the trust.


(July 2, 2011, D.C. Law 18-378, § 2, 58 DCR 1720; Mar. 5, 2013, D.C. Law 19-210, § 2(l)(4)(D), 59 DCR 13171.)

Effect of Amendments

The 2013 amendment by D.C. Law 19-210 substituted “Limitation on liability of trustees and beneficial owners” for “Statutory trust solely liable for debt, obligation, or other liability of statutory trust” in the section heading; rewrote (a); and substituted “shall be” for “shall be is” in (b).

Editor's Notes

Uniform Law: This section is based on § 304 of the Uniform Statutory Trust Entity Act.

Application of Law 19-210: Section 7 of D.C. Law 19-210 provided that the act shall apply as of January 1, 2012.


§ 29–1203.05. No creditor rights in trust property.

A creditor of a beneficial owner or trustee shall not obtain possession of, or otherwise exercise legal or equitable remedies with respect to, the property of a statutory trust or any series thereof.


(July 2, 2011, D.C. Law 18-378, § 2, 58 DCR 1720.)

Editor's Notes

Uniform Law: This section is based on § 305 of the Uniform Statutory Trust Entity Act.


§ 29–1203.06. Duration.

(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.


(July 2, 2011, D.C. Law 18-378, § 2, 58 DCR 1720; Mar. 5, 2013, D.C. Law 19-210, § 2(l)(4)(E), 59 DCR 13171.)

Section References

This section is referenced in § 29-1201.04.

Effect of Amendments

The 2013 amendment by D.C. Law 19-210 rewrote (a); substituted “series of a statutory trust may” for “statutory trust, or any series thereof, shall” in (b); and substituted “trustee, or person designated under § 29-1201.03(e)(8) or (9) does” for “or trustee shall” in (c).

Editor's Notes

Uniform Law: This section is based on § 306 of the Uniform Statutory Trust Entity Act.

Application of Law 19-210: Section 7 of D.C. Law 19-210 provided that the act shall apply as of January 1, 2012.


§ 29–1203.07. Power to hold property; title to trust property.

A statutory trust may hold or take title to property in its own name or in the name of a trustee in the trustee’s capacity as trustee, whether in an active, passive, or custodial capacity.


(July 2, 2011, D.C. Law 18-378, § 2, 58 DCR 1720.)

Editor's Notes

Uniform Law: This section is based on § 307 of the Uniform Statutory Trust Entity Act.


§ 29–1203.08. Power to sue and be sued.

A statutory trust may sue and be sued in its own name.


(July 2, 2011, D.C. Law 18-378, § 2, 58 DCR 1720.)

Section References

This section is referenced in § 29-1201.04 and § 29-1204.05.

Editor's Notes

Uniform Law: This section is based on § 308 of the Uniform Statutory Trust Entity Act.