Section 34-518 - Existence of statutory trust.

CT Gen Stat § 34-518 (2019) (N/A)
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(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.