Beneficial interest
Known as the Uniform Statutory Trust Entity Act
The act spans §§ 29-1201.01 to 29-1209.01 (66 sections).
July 2, 2011, D.C
(a) A beneficial interest in a statutory trust is personal property.
(b) A beneficial interest in a statutory trust shall not be an interest in specific property of the statutory trust.
(c) A beneficial owner shall not have a preemptive right to subscribe to any additional issue of beneficial interests or any other interest of a statutory trust.
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.