Connecticut Statutory Trust Act

Connecticut · 34 · §§ 34-500 to 34-548 · 43 sections

Overview

The act establishes the statutory trust as a distinct form of unincorporated business entity recognized and governed by state law rather than by common-law trust principles alone. It addresses how such a trust comes into legal existence, the roles and duties of the trustees who manage it, the beneficial interests held by those on whose behalf it is administered, and the extent to which trustees and beneficial owners are shielded from personal liability for the trust's obligations. It further supplies default governance rules that a trust's own governing instrument may in large part displace, together with procedures for amending, restructuring, and terminating the trust.

Editorial summary generated from the text of this act. It is not part of the statute — read the sections below for the operative language.

In the courts

Sections of this act have been cited in 2 court decisions.

Most-cited authority: 351 F.3d 810 - First Union National Bank v. Pictet Overseas Trust Corp.

Sections covered

Conn. Gen. Stat. § 34-500Short title: Connecticut Statutory Trust Act1 cite
Conn. Gen. Stat. § 34-501Definitions
Conn. Gen. Stat. § 34-502Authorization of statutory trust. Applicability to common law business trusts. Governing law
Conn. Gen. Stat. § 34-502aPurposes of statutory trust
Conn. Gen. Stat. § 34-502bPowers and liabilities of statutory trust1 cite
Conn. Gen. Stat. § 34-503Certificate of trust. Filing of documents
Conn. Gen. Stat. § 34-504Execution of certificates
Conn. Gen. Stat. § 34-505Effective time and date of certificate
Conn. Gen. Stat. § 34-506Name of statutory trust. Reservation of name
Conn. Gen. Stat. § 34-507Appointment of statutory agent for service of process
Conn. Gen. Stat. § 34-508Service of process
Conn. Gen. Stat. § 34-509Fees payable to the Secretary of the State
Conn. Gen. Stat. § 34-510Interrogatories by Secretary of the State
Conn. Gen. Stat. § 34-511Powers of Secretary of the State
Conn. Gen. Stat. § 34-512Limited Partnerships, Partnerships, Professional Associations, Limited Liability Companies and Statutory Trusts › Statutory Trusts
Conn. Gen. Stat. § 34-515Contributions by beneficial owners
Conn. Gen. Stat. § 34-516Rights of beneficial owners in property of statutory trust
Conn. Gen. Stat. § 34-517Management of statutory trust
Conn. Gen. Stat. § 34-518Existence of statutory trust
Conn. Gen. Stat. § 34-519Applicability of laws pertaining to trusts. Classification for taxation purposes
Conn. Gen. Stat. § 34-520Applicability of law re foreign corporation acting as trustee
Conn. Gen. Stat. § 34-521Merger or consolidation
Conn. Gen. Stat. § 34-522Derivative actions
Conn. Gen. Stat. § 34-523Liability of beneficial owners, trustees, officers, employees and managers
Conn. Gen. Stat. § 34-524Indemnification
Conn. Gen. Stat. § 34-525Limited Partnerships, Partnerships, Professional Associations, Limited Liability Companies and Statutory Trusts › Statutory Trusts
Conn. Gen. Stat. § 34-530Governing law
Conn. Gen. Stat. § 34-531Registration with Secretary of the State
Conn. Gen. Stat. § 34-532Appointment of agent for service of process
Conn. Gen. Stat. § 34-533Service of process on statutory agent
Conn. Gen. Stat. § 34-534Issuance of registration
Conn. Gen. Stat. § 34-535Name
Conn. Gen. Stat. § 34-536Amendment of application for registration
Conn. Gen. Stat. § 34-537Cancellation of registration
Conn. Gen. Stat. § 34-538Revocation of certificate of registration
Conn. Gen. Stat. § 34-539Transaction of business without registration
Conn. Gen. Stat. § 34-540Activities not constituting transacting business in this state
Conn. Gen. Stat. § 34-541Action by Attorney General
Conn. Gen. Stat. § 34-542Limited Partnerships, Partnerships, Professional Associations, Limited Liability Companies and Statutory Trusts › Statutory Trusts
Conn. Gen. Stat. § 34-545Reservation of power to amend or repeal
Conn. Gen. Stat. § 34-546Rules of construction
Conn. Gen. Stat. § 34-547Severability
Conn. Gen. Stat. § 34-548Limited Partnerships, Partnerships, Professional Associations, Limited Liability Companies and Statutory Trusts › Statutory Trusts

Enacted in other states

Delaware, Maryland, Wyoming

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