Delaware Code Title 12 Sec. 3809 – Applicability of trust law
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Except to the extent otherwise provided in the governing instrument of a statutory trust or in this subchapter, the laws of this State pertaining to trusts are hereby made applicable to statutory trusts; provided however, that for purposes of any tax imposed by this State or any instrumentality, agency or political subdivision of this State a statutory trust shall be classified as a corporation, an association, a partnership, a trust or otherwise, as shall be determined under the United States Internal Revenue Code of 1986 [26 U.S. Code § 1 et seq.], as amended, or under any successor provision.
66 Del. Laws, c. 279, § ?1; 67 Del. Laws, c. 297, § ?11; 70 Del. Laws, c. 548, § ?7; 73 Del. Laws, c. 329, § ?1;
Terms Used In Delaware Code Title 12 Sec. 3809
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- State: means a state of the United States, the District of Columbia, Puerto Rico, the United States Virgin Islands, a federally recognized Indian tribe, or any territory or insular possession subject to the jurisdiction of the United States. See Delaware Code Title 12 Sec. 39A-101
- United States: includes its territories and possessions and the District of Columbia. See Delaware Code Title 1 Sec. 302