A statutory trust may be organized to carry on any lawful business or activity, whether or not conducted for profit, and for any lawful purpose, including, without limitation, holding or otherwise taking title to property, whether in an active, passive or custodial capacity.
Conn. Gen. Stat. § 34-502a
Purposes of statutory trust
Known as the Connecticut Statutory Trust Act
The act spans §§ 34–34 (43 sections).
(P.A. 98-137, S. 32, 62; 98-219, S. 33, 34.) History: P.A. 98-137, a reenactment of a former provision of Sec. 34-501(2), effective July 1, 1998; P.A. 98-219 revised effective d…
Official source: Connecticut General Assembly. Reproduced from public-domain Connecticut statutes; confirm against the official source for the current text. Not legal advice.