Md. Code, Corporations and Associations § 12-202
This is the official text of Md. Code, Corporations and Associations § 12-202, part of Maryland’s Code, Corporations and Associations — governs the formation and operation of corporations, LLCs, and partnerships.
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§12–202.
Official statutory text
(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.
(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.
Status: in_force · Read it on the official government site
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