Title 12, Decedents’ Estates and Fiduciary Relations

§ 3817. Indemnification. (a) Subject to such standards and restrictions, if any, as are set forth in the governing instrument of a statutory trust, a statutory trust shall have the power to indemnify and hold harmless any trustee or beneficial owner or other person from and again…

§ 3818. Treasury interests. Except to the extent otherwise provided in the governing instrument of a statutory trust, a statutory trust may acquire, by purchase, redemption or otherwise, any beneficial interest in the statutory trust held by a beneficial owner of the statutory tr…

§ 3819. Access to and confidentiality of information; records. (a) Except to the extent otherwise provided in the governing instrument of a statutory trust, each beneficial owner of a statutory trust, in person or by attorney or other agent, has the right, subject to such reasona…

§ 3820. Conversion of other business entities to a statutory trust. (a) Any other business entity formed or organized or existing under the laws of the State or any other state or the United States or any foreign country or other foreign jurisdiction may convert to a statutory tr…

§ 3821. Conversion of a statutory trust. (a) Upon compliance with this section, a statutory trust may convert to an other business entity. (b) If the governing instrument specifies the manner of authorizing a conversion of the statutory trust, the conversion shall be authorized a…

§ 3822. Domestication of non-United States entities. (a) As used in this section, “non-United States entity” means a foreign statutory trust (other than one formed under the laws of a state), or a corporation, a limited liability company, a business trust or association, a real e…

§ 3823. Transfer or continuance of domestic statutory trusts. (a) Upon compliance with the provisions of this section, any statutory trust may transfer to or domesticate in any jurisdiction, other than any state, and, in connection therewith, may elect to continue its existence a…

§ 3824. Judicial cancellation of certificate of trust; proceedings. (a) Upon motion by the Attorney General, the Court of Chancery shall have jurisdiction to cancel the certificate of trust of any statutory trust for abuse or misuse of its statutory trust powers, privileges or ex…

§ 3825. Division of a statutory trust. (a) As used in this section and § 3810 of this title: (1) “Dividing trust” means the statutory trust that is effecting a division in the manner provided in this section. (2) “Division” means the division of a dividing trust into 2 or more st…

§ 3826. Document form, signature and delivery. (a) Except as provided in subsection (b) of this section, without limiting the manner in which any act or transaction may be documented, or the manner in which a document may be signed or delivered: (1) Any act or transaction contemp…

§ 3827. Reserved power of State to amend or repeal chapter. All provisions of this chapter may be altered from time to time or repealed and all rights of statutory trusts, trustees, beneficial owners and other persons are subject to this reservation. Unless expressly stated to th…

§ 3828. Construction and application of chapter and governing instrument. (a) The rule that statutes in derogation of the common law are to be strictly construed shall have no application to this chapter. (b) It is the policy of this chapter to give maximum effect to the principl…

§ 3829. Short title. This chapter may be cited as the “Delaware Statutory Trust Act.”67 Del. Laws, c. 297, § 8; 68 Del. Laws, c. 404, § 15; 70 Del. Laws, c. 548, § 16; 71 Del. Laws, c. 335, § 10; 73 Del. Laws, c. 329, § 1; 74 Del. Laws, c. 353, § 17; 82 Del. Laws, c. 264, § 17; 8…

§ 3851. Law governing. Subject to the Constitution of the State: (1) The laws of the state, territory, possession or other jurisdiction or country under which a foreign statutory trust is organized govern its organization and internal affairs and the liability of its beneficial o…

§ 3852. Registration required; application. (a) Before doing business in the State of Delaware, a foreign statutory trust shall register with the Secretary of State. In order to register, a foreign statutory trust shall submit to the Secretary of State: (1) A copy executed by a t…

§ 3853. Issuance of registration. (a) If the Secretary of State finds that an application for registration conforms to law and all requisite fees have been paid, the Secretary of State shall: (1) Certify that the application has been filed in the Secretary of State’s office by en…

§ 3854. Name; registered office; registered agent. (a) A foreign statutory trust may register with the Secretary of State under any name (whether or not it is the name under which it is registered in the jurisdiction of its formation) that could be registered by a domestic statut…

§ 3855. Amendments to application. If any statement in the application for registration of a foreign statutory trust was false when made or any arrangements or other facts described have changed, making the application false in any respect, the foreign statutory trust shall promp…

§ 3856. Cancellation of registration. A foreign statutory trust may cancel its registration by filing with the Secretary of State a certificate of cancellation, executed by a trustee or other authorized person, together with a fee as set forth in § 3862 of this title. A cancellat…

§ 3857. Doing business without registration. (a) A foreign statutory trust doing business in the State may not maintain any action, suit or proceeding in the State until it has registered in the State, and has paid to the State all fees and penalties for the years or parts thereo…

§ 3858. Foreign statutory trusts doing business without having qualified; injunctions. The Court of Chancery shall have jurisdiction to enjoin any foreign statutory trust, or any agent thereof, from doing any business in the State if such foreign statutory trust has failed to reg…

§ 3859. Execution — Liability. Section 3811(c) of this title shall be applicable to foreign statutory trusts as if they were domestic statutory trusts.71 Del. Laws, c. 335, § 11; 73 Del. Laws, c. 329, § 1;

§ 3860. Service of process on registered foreign statutory trusts. (a) Service of legal process upon any foreign statutory trust shall be made by delivering a copy personally to any trustee of the foreign statutory trust in the State or the registered agent of the foreign statuto…

§ 3861. Service of process on unregistered foreign statutory trusts. (a) Any foreign statutory trust which shall do business in the State without having registered under § 3852 of this title shall be deemed to have thereby appointed and constituted the Secretary of State of the S…

§ 3862. Fees. No document required to be filed under this subchapter shall be effective until the applicable fee required by this section is paid. The following fees shall be paid to and collected by the Secretary of State for the use of the State: (1) Upon receipt for filing of …

§ 3863. Activities not constituting doing business. (a) Activities of a foreign statutory trust in the State of Delaware that do not constitute doing business for the purpose of this chapter include: (1) Maintaining, defending or settling an action or proceeding; (2) Holding meet…

§ 3881. Control beneficial interest acquisition definitions. (a) “1940 Act” means the Investment Company Act of 1940, as amended (15 U.S.C. § 80a-1 et seq.), or any successor statute thereto. (b) “Acquiring person” means a person who makes or proposes to make a control beneficial…

§ 3882. Beneficial interests within a range; beneficial interests held for the benefit of others. For the purposes of this subchapter: (1) Unless otherwise provided in an approval or exemption pursuant to § 3883(b) of this title or an approval of a control beneficial interest acq…

§ 3883. Voting rights; approvals and exemptions; application. (a) Holders of control beneficial interests of the statutory trust acquired in a control beneficial interest acquisition have no voting rights under this chapter or the governing instrument of the statutory trust with …

§ 3884. Acquiring person statement. Any person who proposes to make or who has made a control beneficial interest acquisition may deliver an acquiring person statement to the statutory trust at the statutory trust’s principal office. The acquiring person statement shall set forth…

§ 3885. Acquiring person meeting request. (a) Except as provided in § 3886 of this title, if the acquiring person requests, at the time of delivery of an acquiring person statement, and gives a written undertaking to pay the statutory trust’s expenses of a special meeting of bene…

§ 3886. Special meeting requirements; limitations. (a) A call of a special meeting of beneficial owners of the statutory trust is not required to be made under § 3885(a) of this title unless, at the time of delivery of an acquiring person statement under § 3884 of this title, the…

§ 3887. Special meeting notice. (a) If a special meeting of beneficial owners is requested, notice of the special meeting shall be given as promptly as reasonably practicable by the statutory trust to all beneficial owners of record as of the record date set for the meeting, whet…

§ 3888. Disclosure of control beneficial interest acquisitions and related information. (a) A holder of beneficial interests shall disclose in writing to the statutory trust any control beneficial interest acquisition within 10 days of such control beneficial interest acquisition…

§ 3901. Appointment of guardians for persons with disabilities. (a) The Court of Chancery shall have the power to appoint guardians for the person or property, or both, of any person with a disability pursuant to this chapter and Chapter 39A of this title. “Person with a disabili…

§ 3902. Appointment of guardian; choice by minor over 14 years of age; guardian ad litem. (a) Except in accordance with § 925(15) of Title 10 and § 3904 of this title, no person shall have any right or authority as guardian of a person with a disability unless the person has been…

§ 3903. Separate guardian of the person and property. The Court of Chancery may appoint 2 or more persons as guardians of the person with a disability, 1 or more to have the care of the person of the person with a disability and the other or others to have possession and manageme…

§ 3904. Foreign guardians of nonresidents. (a) A guardian, conservator, committee or other similar fiduciary, appointed by an appropriate court of another jurisdiction to manage the property of a person with a disability may, subject to the provisions of subsection (c) of this se…

§ 3905. Guardian’s bond; requirement; form and entry. (a) Every person appointed guardian shall, unless bond and/or surety is dispensed with by the Court, become bound, with surety, to the person with a disability in a penal sum to be fixed by the Court, by a joint and several ob…

§ 3906. Guardian’s bond; additional security; removal for noncompliance. If it appears in any case that the guardian’s bond is insufficient, the Court of Chancery shall order the guardian to give further security and, if such order is not complied with, shall remove the guardian …

§ 3907. Counter security upon petition of surety. The Court of Chancery shall, on the petition of the surety of an executor, administrator or guardian, and proof that the executor, administrator or guardian is in danger of suffering injury or loss from such suretyship, order such…

§ 3908. Removal, resignation or death of guardian. (a) The Court of Chancery may remove a guardian for any sufficient cause. A guardian may, on petition, be allowed to resign when it appears to the Court proper to allow the same. On every such removal or resignation and also on t…

§ 3909. Term of guardianship. (a) If the only allegation of disability in the petition for appointment of a guardian was that the person was a minor, unless terminated earlier by the Court upon application of the guardian, the minor or other interested party, or by the death of t…

§ 3910. Receiver for property of minor; appointment, powers, accounting and bond. (a) If a minor has real or personal property and no guardian, the Court of Chancery may appoint a receiver to take charge of such property during its pleasure and may make such regulations touching …

§ 3921. Powers and duties of guardian; general. (a) A guardian shall have either the care of the person or the possession and management of all the property of the person with a disability or both the care of the person and the possession and management of the property, except to…

§ 3922. General powers and duties of the guardian of the person. (a) The Court shall grant to the guardian of the person such powers, rights and duties which are necessary to protect, manage and care for the person with a disability. The Court may at any time change the powers of…