District Of Columbia § 29-1208.03 - Winding up.
Full text of District Of Columbia D.C. Code § 29-1208.03 — Winding up., with citation guidance and answers to common questions.
§ 29-1208.03. Winding up.
29-1208.03A dissolved statutory trust shall wind up its activities and the trust and each series thereof shall continue after dissolution only for the purpose of its winding up.
In winding up its activities, a statutory trust shall:
Discharge the trust’s debts, obligations, and other liabilities, settle and close the trust’s activities, and marshal and distribute the property of the trust; and
Distribute any surplus property after complying with paragraph (1) of this subsection to the beneficial owners in proportion to their beneficial interests.
In winding up its activities, a statutory trust may:
Preserve the trust’s activities and property as a going concern for a reasonable time;
Institute, maintain, and defend actions and proceedings, whether civil, criminal, or administrative;
Transfer the trust’s property;
Settle disputes; and
Perform other acts necessary or appropriate to its winding up.
Trustees of a dissolved statutory trust that has disposed of claims under or shall not be liable for breach of duty with respect to claims against the trust that are barred or satisfied under or .
The dissolution of a statutory trust shall not terminate the authority of its registered agent.
On application of any person that shows good cause, the Superior Court may appoint a person to be a receiver for a dissolved statutory trust with the power to undertake any action that might have been done by the trust during its winding up if the action is necessary for final settlement of the trust.
Annotations
Application of Law 19-210: Section 7 of provided that the act shall apply as of January 1, 2012.
Uniform Law: This section is based on § 803 of the Uniform Statutory Trust Entity Act.
Source: official District Of Columbia text · Last verified 2026-08-27
Frequently Asked Questions About District Of Columbia § 29-1208.03
What does D.C. Code § 29-1208.03 cover?
Section 29-1208.03 ("Winding up.") is part of the D.C. Code, the codified statutory law of District Of Columbia. 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 District Of Columbia § 29-1208.03?
A common citation format is "D.C. Code § 29-1208.03" (District Of Columbia). 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 District Of Columbia law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the District Of Columbia official source linked on this page or consult a licensed District Of Columbia attorney.
How does District Of Columbia § 29-1208.03 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in District Of Columbia 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 District Of Columbia.