Sec. 34-518. Existence of statutory trust.
Sec. 34-518. Existence of statutory trust. (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.
(P.A. 96-271, S. 228, 254.)
History: P.A. 96-271 effective October 1, 1997.