§ 29-1204.02. Liability of series trust.

Current through October 23, 2012

(a) In a series trust, a debt, obligation, or other liability incurred or otherwise existing respect to the:

(1) Property of a particular series shall be enforceable against the property of the series only, and not against the property of the trust generally or any other series thereof; and

(2) Trust generally or the property of any other series thereof shall not be enforceable against the property of the series.

(b) The association, disassociation, or reassociation of property of a statutory trust or a series thereof to or with the trust or a series thereof, including by conversion or merger under subchapter VII of this chapter shall be deemed to be a transfer between separate persons under Chapter 31 of Title 28.

                
                    var val = document.getElementById('citecontent').innerHTML;
                    art.dialog.defaults.title = window.location.href;
                    art.dialog.data('cite', val);
                    art.dialog.data('homeDemoPath', '/Scripts/plus/artDialog/');
                    art.dialog.open('/Scripts/plus/artDialog/citeiframe.html');

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

HISTORICAL AND STATUTORY NOTES

Legislative History of Laws

For history of Law 18-378, see notes under § 29-101.01.

Uniform Law

This section is based on § 402 of the Uniform Statutory Trust Entity Act . See Vol. 6B , Uniform Laws Annotated, Master Edition or ULA Database on Westlaw.