Liability of series trust.

In a series trust, a debt, obligation, or other liability incurred or otherwise existing [with] respect to the: Property of a particular series shall be enforceable against the property of the series only, and not against the property of the trust generally or any other series thereof; and Trust generally or the property of any other series thereof shall not be enforceable against the property of the series. The association, disassociation, or reassociation of property of a statutory trust or a series thereof to or with the trust or a series thereof, including by a transaction under subchapter VII of this chapter or Chapter 2 of this title is deemed to be a transfer between separate persons under Chapter 31 of Title 28 and a distribution under § 29-1206.15. The rules pertaining to distributions under §§ 29-1206.15 and 29-1206.16 apply to a distribution from a series trust and from the property of any series thereof, except for a distribution under § 29-1204.04. Application of Law 19-210: Section 7 of D.C. Law 19-210 provided that the act shall apply as of January 1, 2012. Uniform Law: This section is based on § 402 of the Uniform Statutory Trust Entity Act.