{"data":{"id":"us-dc/d.c.-code-29-1206.04","jurisdiction":"us-dc","citation":"D.C. Code § 29-1206.04","heading":"Distribution to beneficial owner.","body":"(a)\nWhen a beneficial owner becomes entitled to receive a distribution, with respect to the distribution, the beneficial owner shall have the status of, and shall be entitled to all remedies available to, a creditor of the statutory trust.\n\n(b)\nA beneficial owner has a right to a distribution before the dissolution and winding up of a statutory trust only if the trustee decides to make an interim distribution. A beneficial owner shall not have a right to demand or to receive a distribution from the trust in any form other than money.\n\n(c)\nExcept as otherwise provided in § 29-1208.03(b), the trust may distribute an asset in kind if each part of the asset is fungible with each other part and each beneficial owner receives a percentage of the asset equal in value to the beneficial owner’s share of the distribution.\n\n(d)\nAny distributions made by a statutory trust before its dissolution and winding up must be in proportion to the beneficial interests.","path":["Title 29. Business Organizations. [Enacted title]","Chapter 12. Statutory Trusts.","Subchapter VI. Beneficial Owners."],"source_url":"https://code.dccouncil.gov/us/dc/council/code/sections/29-1206.04","current_through":"2026-08-20 (D.C. Law 26-175)","vintage":"","retrieved_at":"2026-08-29T05:44:07Z","sha256":"2eb23cc61cc21b79526832715e0bf1a04c0b5df7c52fc6afa6acb1217e4d6f89","source_id":"us-dc","stale":false,"prev":"us-dc/d.c.-code-29-1206.03","next":"us-dc/d.c.-code-29-1206.05"},"notice":"GroundRules: Original legal text. Not legal advice."}