{"data":{"id":"us-dc/d.c.-code-29-1205.07","jurisdiction":"us-dc","citation":"D.C. Code § 29-1205.07","heading":"Interested transactions.","body":"(a)\nFor the purposes of this section, the term “covered party” means a trustee, officer, employee, or manager of a statutory trust, or a related party of a trustee, officer, employee, manager, or other person designated pursuant to § 29-1201.03(e)(8) or (9).\n\n(b)\nSubject to subsection (c) of this section, a covered party may lend money to, borrow money from, act as a surety, guarantor, or endorser for, guarantee or assume an obligation of, provide collateral for, or do other business with the statutory trust and, subject to law other than this title, has the same rights and obligations with respect to those matters as a person that is not a covered party.\n\n(c)\nA transaction described in subsection (b) of this section shall be voidable by the statutory trust unless the covered party shows that the transaction is fair to the trust.","path":["Title 29. Business Organizations. [Enacted title]","Chapter 12. Statutory Trusts.","Subchapter V. Trustees and Trust Management."],"source_url":"https://code.dccouncil.gov/us/dc/council/code/sections/29-1205.07","current_through":"2026-08-20 (D.C. Law 26-175)","vintage":"","retrieved_at":"2026-08-29T05:44:07Z","sha256":"7930f8ff00478ae7814e6a1f8cfbcf60e2b598d3c72af2bb3eb2af6b7913d0da","source_id":"us-dc","stale":false,"prev":"us-dc/d.c.-code-29-1205.06","next":"us-dc/d.c.-code-29-1205.08"},"notice":"GroundRules: Original legal text. Not legal advice."}