Section 29-1203.06 - Duration(a) Except as otherwise provided in its certificate of trust, a statutory trust:(1) Has perpetual duration; and(2) May not be terminated or revoked except in accordance with this chapter or the terms of the trust's certificate of trust.(b) A series of a statutory trust may not be terminated or revoked except in accordance with this chapter or the terms of the governing instrument.(c) The death, incapacity, dissolution, termination, or bankruptcy of a beneficial owner , trustee, or person designated under § 29-1201.03(e)(8) or (9) does not result in the termination or dissolution of a statutory trust or any series thereof.(d) A statutory trust or any series thereof shall not terminate because the same person is the sole trustee and sole beneficial owner.July 2, 2011, D.C. Law 18-378, § 2, 58 DCR 1720; Mar. 5, 2013, D.C. Law 19-210, § 2(l)(4)(E), 59 DCR 13171.Uniform Law: This section is based on § ,306 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.