§ 29-1206.01. Beneficial interest.

Current through October 23, 2012

(a) A beneficial interest in a statutory trust shall be freely transferable.

(b) A beneficial interest in a statutory trust shall be personal property regardless of the nature of the property of the trust.

(d) A beneficial owner shall not have a preemptive right to subscribe to any additional issue of beneficial interests or any other interest of a statutory trust.

                
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(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 § 601 of the Uniform Statutory Trust Entity Act . See Vol. 6B , Uniform Laws Annotated, Master Edition or ULA Database on Westlaw.