Statutes, codes, and regulations
District of Columbia Official Code
Division V - LOCAL BUSINESS AFFAIRSTitle 29 - BUSINESS ORGANIZATIONSChapter 12 - STATUTORY TRUSTS
Subchapter VI - BENEFICIAL OWNERS
Section 29-1206.01 - Beneficial interest

D.C. Code § 29-1206.01

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Current through codified legislation effective October 30, 2024
Section 29-1206.01 - Beneficial interest
(a) A beneficial interest in a statutory trust is personal property.
(b) A beneficial interest in a statutory trust shall not be an interest in specific property of the statutory trust.
(c) 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.

D.C. Code § 29-1206.01

July 2, 2011, D.C. Law 18-378, § 2, 58 DCR 1720; Mar. 5, 2013, D.C. Law 19-210, § 2(l)(7)(B), 59 DCR 13171.

Uniform Law: This section is based on § ,601 of the Uniform Statutory Trust Entity Act.

Section 2(l)(7)(A) of D.C. Law 19-210 substituted "Beneficial Owners" for "Beneficiaries and Beneficial Rights" in the subchapter heading.

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