Source: https://code.dccouncil.us/dc/council/code/titles/26/chapters/4/
Timestamp: 2019-08-24 01:13:18
Document Index: 377390742

Matched Legal Cases: ['§ 26', '§\u200292', '§ 1', '§\u200226', '§\u200226', '§\u20021', '§ 3', '§ 155', '§\u200226', '§\u200226', '§\u20022', '§ 4', '§\u200226', '§\u200226', '§\u20023']

D.C. Law Library - Chapter 4. Common Trust Funds.
Chapter 4A. Community Development by Financial Institutions.
Chapter 4. Common Trust Funds.
§ 26–404. Uniformity of laws.
Any bank or trust company qualified to act as fiduciary in the District of Columbia may, subject to such rules and regulations as may be promulgated from time to time by the Board of Governors of the Federal Reserve System under the provisions of § 92a of Title 12, United States Code , as amended, pertaining to the collective investment of trust funds by national banks, establish common trust funds for the purpose of furnishing investments to itself as fiduciary, or to itself and others as cofiduciaries; and may, as such fiduciary or cofiduciary, invest funds which it lawfully holds for investment in interests in such common trust funds, if such investment is not prohibited by the instrument, judgment, decree, or order creating such fiduciary relationship, and if, in the case of cofiduciaries, the bank or trust company procures the written consent of its cofiduciaries to such investment.
(Oct. 27, 1949, 63 Stat. 938, ch. 767, § 1.)
1981 Ed., § 26-301.
1973 Ed., § 26-701.
Uniform Law: This section is based upon § 1 of the Uniform Common Trust Fund Act.
Unless ordered by a court of competent jurisdiction the bank or trust company operating such common trust funds is not required to render a court accounting with regard to such common trust funds; but it may, by application to the Superior Court of the District of Columbia, secure approval of such accounting on such conditions as the Court may establish.
(Oct. 27, 1949, 63 Stat. 938, ch. 767, § 3; July 29, 1970, 84 Stat. 572, Pub. L. 91-358, title I, § 155(c) (34).)
1981 Ed., § 26-303.
1973 Ed., § 26-703.
Uniform Law: This section is based upon § 2 of the Uniform Common Trust Fund Act.
This chapter shall be so interpreted and construed as to effectuate its general purpose to make uniform the law of the District of Columbia with the law of those states which enact the Uniform Common Trust Fund Act.
(Oct. 27, 1949, 63 Stat. 939, ch. 767, § 4.)
1981 Ed., § 26-304.
1973 Ed., § 26-704.
Uniform Law: This section is based upon § 3 of the Uniform Common Trust Fund Act.