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13 chapters · 915 sections in this title.
D.C. Code § 29-1206.14 Special litigation committee
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(a) If a statutory trust is named as or made a party in a derivative proceeding, the trust may appoint a special litigation committee to investigate the claims asserted in the proceeding and determine whether pursuing the action is in the best interests of the trust. If the trust…
D.C. Code § 29-1206.15 Limitations on distributions
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(a) A statutory trust may not make a distribution, including a distribution under § 29-1208.03(b)(2), if after the distribution: (1) The trust would not be able to pay its debts as they become due in the ordinary course of the trust’s activities and affairs; or (2) The trust’s to…
D.C. Code § 29-1206.16 Liability for improper distributions
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(a) If a trustee of a statutory trust consents to a distribution made in violation of § 29-1206.15 and in consenting to the distribution fails to comply with § 29-1205.05, the trustee is personally liable to the trust or the series thereof for the amount of the distribution which…
D.C. Code § 29-1207.01 Definitions
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For the purposes of this subchapter, the term: (1) “Constituent statutory trust” means a statutory trust that is party to a merger. (2) “Governing law” means the law that governs the organization’s internal affairs. (3)(A) “Organization” means: (i) A common-law trust that does no…
