(a) Except as otherwise provided in subsection (b) of this section, a statutory trust may be formed for and may have any lawful purpose, regardless of whether for profit.
(b) A statutory trust may not have a predominantly donative purpose.
D.C. Code § 29-1203.03
Permissible purposes
Known as the Uniform Statutory Trust Entity Act
The act spans §§ 29–29 (66 sections).
July 2, 2011, D.C
Official source: D.C. Law Library (Council of the District of Columbia). Reproduced from public-domain District of Columbia statutes; confirm against the official source for the current text. Not legal advice.