Code of the District of Columbia

Subchapter VIII. Dissolution and Winding Up.


§ 29–1208.01. Events causing dissolution.

A statutory trust shall be dissolved only by:

(1) An administrative dissolution under §§ 29-106.01 and 29-106.02; or

(2) The filing of articles of dissolution under § 29-1208.02:

(A) As provided in the certificate of trust; or

(B) With the approval of all the beneficial owners.


(July 2, 2011, D.C. Law 18-378, § 2, 58 DCR 1720; Mar. 5, 2013, D.C. Law 19-210, § 2(l)(8)(A), 59 DCR 13171.)

Section References

This section is referenced in § 29-1208.02.

Effect of Amendments

The 2013 amendment by D.C. Law 19-210 substituted “’As provided in the certificate of trust” for “On the occurrence of an event or circumstance that the governing instrument states causes dissolution” in (2)(A).

Editor's Notes

Uniform Law: This section is based on § 801 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.


§ 29–1208.02. Articles of dissolution.

(a) If dissolution of a statutory trust is authorized under § 29-1208.01, the trust shall deliver to the Mayor for filing articles of dissolution setting forth the:

(1) Name of the trust; and

(2) Date of the dissolution.

(b) Except as otherwise provided in § 29-102.03, a statutory trust is dissolved when articles of dissolution that comply with subsection (a) of this section, are filed by the Mayor.


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

Section References

This section is referenced in § 29-1208.01.

Editor's Notes

Uniform Law: This section is based on § 802 of the Uniform Statutory Trust Entity Act.


§ 29–1208.03. Winding up.

(a) A dissolved statutory trust shall wind up its activities and the trust and each series thereof shall continue after dissolution only for the purpose of its winding up.

(b) In winding up its activities, a statutory trust shall:

(1) Discharge the trust’s debts, obligations, and other liabilities, settle and close the trust’s activities, and marshal and distribute the property of the trust; and

(2) Distribute any surplus property after complying with paragraph (1) of this subsection to the beneficial owners in proportion to their beneficial interests.

(c) In winding up its activities, a statutory trust may:

(1) Preserve the trust’s activities and property as a going concern for a reasonable time;

(2) Institute, maintain, and defend actions and proceedings, whether civil, criminal, or administrative;

(3) Transfer the trust’s property;

(4) Settle disputes; and

(5) Perform other acts necessary or appropriate to its winding up.

(d) Trustees of a dissolved statutory trust that has disposed of claims under § 29-1208.04 or § 29-1208.05 shall not be liable for breach of duty with respect to claims against the trust that are barred or satisfied under § 29-1208.04 or § 29-1208.05.

(e) The dissolution of a statutory trust shall not terminate the authority of its registered agent.

(f) On application of any person that shows good cause, the Superior Court may appoint a person to be a receiver for a dissolved statutory trust with the power to undertake any action that might have been done by the trust during its winding up if the action is necessary for final settlement 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)(8)(B), 59 DCR 13171.)

Section References

This section is referenced in § 29-1204.04, § 29-1206.04, and § 29-1206.15.

Effect of Amendments

The 2013 amendment by D.C. Law 19-210 substituted “subsection” for “section” in (b)(2).

Editor's Notes

Uniform Law: This section is based on § 803 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.


§ 29–1208.04. Known claims against dissolved statutory trust.

(a) Except as otherwise provided in subsection (c) of this section, a dissolved statutory trust may give notice of a known claim which has the effect provided in subsection (b) of this section. The trust may, in a record, notify its known claimants of the dissolution. The notice shall:

(1) Specify the information required to be included in the claim;

(2) Provide a mailing address to which the claim is to be sent;

(3) State the deadline for receipt of the claim, which shall not be less than 120 days after the date the notice is sent to the claimant; and

(4) State that the claim will be barred if not received by the deadline.

(b) A claim against a dissolved statutory trust is barred if the requirements of subsection (a) of this section are met and:

(1) The claim is not received by the specified deadline; or

(2) If the claim is timely received but rejected by the trust:

(A) The trust notifies the claimant in a record that the claim is rejected and will be barred unless the claimant commences an action against the trust to enforce the claim not later than the 90th day after the claimant receives the notice; and

(B) The claimant does not commence the required action not later than the 90th day.

(c) This section shall not apply to a claim based on:

(1) An event occurring after the effective date of dissolution; or

(2) A liability that on that date is contingent.


(July 2, 2011, D.C. Law 18-378, § 2, 58 DCR 1720; Mar. 5, 2013, D.C. Law 19-210, § 2(l)(8)(C), 59 DCR 13171.)

Section References

This section is referenced in § 29-1206.15, § 29-1208.03, and § 29-1208.05.

Effect of Amendments

The 2013 amendment by D.C. Law 19-210 substituted “Known claims against dissolved statutory trust” for “Notice to claimant” in the section heading; substituted “give notice of a known claim which has the effect provided in subsection (b) of this section. The trust may, in a record, notify its known claimants of the dissolution” for “dispose of a known claim against it by sending notice to the claimant in a record of the dissolution of the trust” in (a); and deleted “unmatured or” preceding “contingent” in (c)(2).

Editor's Notes

Uniform Law: This section is based on § 804 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.


§ 29–1208.05. Other claims against dissolved statutory trust.

(a) A dissolved statutory trust may publish notice of its dissolution and request persons having claims against the trust to present them in accordance with the notice.

(b) A notice under subsection (a) of this section shall:

(1) Be published at least once in a newspaper of general circulation in the District or, if it has no principal office in the District, in the city in which the trust’s principal office is or was last located;

(2) Describe the information required for a claim;

(3) Provide a mailing address to which the claim may be sent; and

(4) State that a claim against the trust shall be barred unless an action to enforce the claim is commenced not later than 3 years after publication of the notice.

(c) If a dissolved statutory trust publishes a notice in accordance with subsection (b) of this section, the claim of each of the following claimants is barred unless the claimant commences an action to enforce a claim against the trust not later than 3 years after the publication date of the notice:

(1) A claimant that did not receive notice in a record under § 29-1208.04;

(2) A claimant whose claim was timely sent to the trust but was rejected or not acted on; and

(3) A claimant whose claim is contingent at, or based on an event occurring after, the effective date of dissolution.

(d) A claim not barred under this section or § 29-1208.04 may be enforced against:

(1) A dissolved statutory trust, to the extent of its undistributed property; and

(2) A beneficial owner, except as provided in § 29-1208.06, if property of the trust has been distributed after dissolution, against a beneficial owner to the extent of that person’s proportionate share of the claim or property distributed to the beneficial owner after dissolution, whichever is less.

(e) A person’s total liability for all claims under subsection (d)(2) of this section does not exceed the total amount of assets distributed to the person after dissolution.


(July 2, 2011, D.C. Law 18-378, § 2, 58 DCR 1720; Mar. 5, 2013, D.C. Law 19-210, § 2(l)(8)(D), 59 DCR 13171.)

Section References

This section is referenced in § 29-1206.15, § 29-1208.03, and § 29-1208.06.

Effect of Amendments

The 2013 amendment by D.C. Law 19-210 substituted “Other claims against dissolved statutory trust” for “Publication of notice” in the section heading; in (c), substituted “the claim of each of the following claimants is barred unless” for “unless”, and deleted “the claim of each of the following claimants shall be barred” following “date of the notice”; and rewrote (d) and (e).

Editor's Notes

Uniform Law: This section is based on § 805 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.


§ 29–1208.06. Court proceedings.

(a) A dissolved statutory trust that has published a notice under § 29-1208.05 may file an application with the Superior Court, or, if the principal office is not located in the District, in the appropriate court where the office of its principal office is located, for a determination of the amount and form of security to be provided for payment of claims that are contingent or have not been made known to the dissolved trust or that are based on an event occurring after the effective date of dissolution but which, based on the facts known to the dissolved trust, are reasonably expected to arise after the effective date of dissolution. Provision need not be made for any claim that is or is reasonably anticipated to be barred under § 29-1208.05(c).

(b) Notice of the proceeding must be given by the dissolved statutory trust to each claimant holding a contingent claim whose contingent claim is shown on the records of the dissolved trust not later than 10 days after the filing of the application under subsection (a) of this section.

(c) The Superior Court may appoint a guardian ad litem to represent all claimants whose identities are unknown in any proceeding brought under this section. The reasonable fees and expenses of the guardian, including reasonable expert witness fees, must be paid by the dissolved statutory trust.

(d) Provision by the dissolved statutory trust for security in the amount and the form ordered by the court under subsection (a) of this section satisfies the dissolved trust’s obligations with respect to claims that are contingent, have not been made known to the dissolved trust, or are based on an event occurring after the effective date of dissolution, and such claims may not be enforced against a beneficial owner that received assets in liquidation.


(Mar. 5, 2013, D.C. Law 19-210, § 2(l)(8)(E), 59 DCR 13171.)

Section References

This section is referenced in § 29-1206.15 and § 29-1208.05.

Editor's Notes

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