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2022 Maryland Statutes
Corporations and Associations
Title 12 - Statutory Trusts
Subtitle 2 - Formation and Powers
Section 12-202 - Perpetual Existence; Dissolution; Winding Up; Claims and Obligations

Universal Citation:
MD. Corporations and Associations Code § 12-202 (2022)
Learn more This media-neutral citation is based on the American Association of Law Libraries Universal Citation Guide and is not necessarily the official citation.

    (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.

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