Connecticut § 34-502 - Authorization of statutory trust. Applicability to common law business trusts. Governing law.
Full text of Connecticut Connecticut General Statutes § 34-502 — Authorization of statutory trust. Applicability to common law business trusts. Governing law., with citation guidance and answers to common questions.
§ 34-502. Authorization of statutory trust. Applicability to common law business trusts. Governing law.
Sec. 34-502. Authorization of statutory trust. Applicability to common law business trusts. Governing law. (a) A statutory trust is hereby declared to be a permitted form of association for the conduct of business in this state, provided the provisions of sections 34-500 to 34-547, inclusive, are complied with, except that nothing contained in said sections shall be construed to limit, prohibit or invalidate the existence, acts or obligations of any common law business trust created or doing business in this state before or after October 1, 1997. Common law business trusts created before or after October 1, 1997, may elect to be governed by the provisions of said sections upon the filing of a certificate of trust, provided, a common law business trust created before October 1, 1997, shall not be governed by the provisions of said sections to the extent of any inconsistent provisions contained in its governing instrument and not thereafter modified by amendment.
(b) The laws of this state shall govern the organization and internal affairs of all domestic statutory trusts.
(P.A. 96-271, S. 220, 254.)
History: P.A. 96-271 effective October 1, 1997.
Source: official Connecticut text · Last verified 2026-08-27
Frequently Asked Questions About Connecticut § 34-502
What does Connecticut General Statutes § 34-502 cover?
Section 34-502 ("Authorization of statutory trust. Applicability to common law business trusts. Governing law.") is part of the Connecticut General Statutes, the codified statutory law of Connecticut. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Connecticut § 34-502?
A common citation format is "Connecticut General Statutes § 34-502" (Connecticut). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Connecticut law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Connecticut official source linked on this page or consult a licensed Connecticut attorney.
How does Connecticut § 34-502 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Connecticut can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Connecticut.