Sec. 34-518. Existence of statutory trust.
87 words·~1 min read·
/ct/title-34/chapter-615-statutory-trusts/34-518·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)Except to the extent otherwise provided in the governing instrument of the statutory trust, a statutory trust shall have perpetual existence, and a statutory trust may not be terminated or revoked by a beneficial owner or other person except in accordance with the terms of its governing instrument.
(b)Except to the extent otherwise provided in the governing instrument of a statutory trust, the death, incapacity, dissolution, termination or bankruptcy of a beneficial owner shall not result in the termination or dissolution of a statutory trust.