§ 12-202
81 words·~1 min read·
/md/corporations-and-associations/12-202·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
§12–202.
(a)Except as provided in its governing instrument, a statutory trust:
(1)Shall have perpetual existence; and
(2)May not be terminated or revoked by a beneficial owner or other person except in accordance with the terms of the governing instrument of the statutory trust.
(b)Except as 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.