Section 29-1204.02 - Liability of series trust(a) In a series trust, a debt, obligation, or other liability incurred or otherwise existing [with] 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 a transaction under subchapter VII of this chapter or Chapter 2 of this title is deemed to be a transfer between separate persons under Chapter 31 of Title 28 and a distribution under § 29-1206.15.(c) The rules pertaining to distributions under §§ 29-1206.15 and 29-1206.16 apply to a distribution from a series trust and from the property of any series thereof, except for a distribution under § 29-1204.04.July 2, 2011, D.C. Law 18-378, § 2, 58 DCR 1720; Mar. 5, 2013, D.C. Law 19-210, § 2(l)(5)(B), 59 DCR 13171.Uniform Law: This section is based on § ,402 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.