{"component": "clause", "props": {"groups": [{"snippet_links": [{"key": "the-parties-hereto", "type": "clause", "offset": [23, 41]}, {"key": "delaware-statutory-trust-act", "type": "definition", "offset": [106, 134]}, {"key": "this-agreement", "type": "clause", "offset": [144, 158]}, {"key": "governing-instrument", "type": "clause", "offset": [174, 194]}, {"key": "pursuant-to-section", "type": "clause", "offset": [209, 228]}, {"key": "trustee-shall", "type": "definition", "offset": [284, 297]}, {"key": "certificate-of-trust", "type": "definition", "offset": [305, 325]}, {"key": "delaware-secretary-of-state", "type": "definition", "offset": [335, 362]}, {"key": "trustee-as-trustee", "type": "clause", "offset": [429, 447]}, {"key": "all-rights", "type": "clause", "offset": [470, 480]}, {"key": "powers-and-duties", "type": "clause", "offset": [482, 499]}, {"key": "in-accordance-with", "type": "definition", "offset": [521, 539]}, {"key": "the-applicable-law", "type": "clause", "offset": [540, 558]}, {"key": "with-respect-to", "type": "clause", "offset": [559, 574]}, {"key": "purposes-of-the-trust", "type": "definition", "offset": [593, 614]}], "samples": [{"hash": "hdduNmZhnEb", "uri": "/contracts/hdduNmZhnEb#statutory-trust", "label": "Omnibus Instrument (Protective Life Insurance Co)", "score": 21.0, "published": true}, {"hash": "g6HqaR4a7xs", "uri": "/contracts/g6HqaR4a7xs#statutory-trust", "label": "Omnibus Instrument (Protective Life Insurance Co)", "score": 21.0, "published": true}, {"hash": "dm3kGsTgKs1", "uri": "/contracts/dm3kGsTgKs1#statutory-trust", "label": "Omnibus Instrument (Protective Life Insurance Co)", "score": 21.0, "published": true}], "snippet": "It is the intention of the parties hereto that the Trust constitute a statutory trust organized under the Delaware Statutory Trust Act and that this Agreement constitute the governing instrument of the Trust. Pursuant to Section 3810 of the Delaware Statutory Trust Act, the Delaware Trustee shall file a Certificate of Trust with the Delaware Secretary of State to form the Trust. The parties hereto hereby appoint the Delaware Trustee as trustee of the Trust, to have all rights, powers and duties set forth herein and in accordance with the applicable law with respect to accomplishing the purposes of the Trust.", "size": 16, "hash": "db2248341784547ee75bd192b05118be", "id": 1}, {"snippet_links": [{"key": "trust-fund-established", "type": "clause", "offset": [2, 24]}, {"key": "state-law", "type": "clause", "offset": [28, 37]}, {"key": "receive-funds", "type": "clause", "offset": [41, 54]}, {"key": "allocated-to", "type": "definition", "offset": [55, 67]}, {"key": "settling-state", "type": "definition", "offset": [70, 84]}, {"key": "remediation-accounts-fund", "type": "definition", "offset": [87, 112]}, {"key": "opioid-remediation", "type": "definition", "offset": [215, 233]}, {"key": "subject-to", "type": "definition", "offset": [235, 245]}, {"key": "administrative-expenses", "type": "definition", "offset": [257, 280]}, {"key": "authority-to", "type": "clause", "offset": [317, 329]}], "samples": [{"hash": "hgduWxpUjY5", "uri": "/contracts/hgduWxpUjY5#statutory-trust", "label": "Settlement Agreement", "score": 32.2379112244, "published": true}, {"hash": "3OazRMIxE6X", "uri": "/contracts/3OazRMIxE6X#statutory-trust", "label": "Settlement Agreement", "score": 32.1311531067, "published": true}, {"hash": "3othxVKUVo6", "uri": "/contracts/3othxVKUVo6#statutory-trust", "label": "Settlement Agreement", "score": 27.6297054291, "published": true}], "snippet": "A trust fund established by state law to receive funds allocated to a Settling State's Remediation Accounts Fund and restrict any expenditures made using funds from the Settling State's Remediation Accounts Fund to Opioid Remediation, subject to reasonable administrative expenses. A State may give a Statutory Trust authority to allocate one", "size": 4, "hash": "c137601529e2871b0a212acff62327d7", "id": 2}, {"snippet_links": [{"key": "the-intention-of-the-parties", "type": "clause", "offset": [6, 34]}, {"key": "delaware-statutory-trust-act", "type": "definition", "offset": [99, 127]}, {"key": "the-trust-agreement", "type": "clause", "offset": [137, 156]}, {"key": "governing-instrument", "type": "clause", "offset": [172, 192]}, {"key": "pursuant-to-section", "type": "clause", "offset": [207, 226]}, {"key": "date-of", "type": "clause", "offset": [286, 293]}, {"key": "trustee-shall", "type": "definition", "offset": [328, 341]}, {"key": "certificate-of-trust", "type": "definition", "offset": [349, 369]}, {"key": "the-secretary-of-state", "type": "clause", "offset": [375, 397]}, {"key": "parties-to-the-trust", "type": "definition", "offset": [421, 441]}, {"key": "trustee-as-trustee", "type": "clause", "offset": [480, 498]}, {"key": "all-rights", "type": "clause", "offset": [521, 531]}, {"key": "powers-and-duties", "type": "clause", "offset": [533, 550]}, {"key": "in-accordance-with", "type": "definition", "offset": [588, 606]}, {"key": "the-applicable-law", "type": "clause", "offset": [607, 625]}, {"key": "subject-to", "type": "definition", "offset": [627, 637]}, {"key": "by-the-trust", "type": "clause", "offset": [651, 663]}, {"key": "with-respect-to", "type": "clause", "offset": [675, 690]}, {"key": "purposes-of-the-trust", "type": "definition", "offset": [709, 730]}], "samples": [{"hash": "bjAnlqZhaAV", "uri": "/contracts/bjAnlqZhaAV#statutory-trust", "label": "Trust Agreement (Allstate Life Global Funding)", "score": 21.0, "published": true}, {"hash": "cbNIDEtCiYR", "uri": "/contracts/cbNIDEtCiYR#statutory-trust", "label": "Trust Agreement (Allstate Life Insurance Co)", "score": 18.0, "published": true}, {"hash": "6hY54maBBrc", "uri": "/contracts/6hY54maBBrc#statutory-trust", "label": "Trust Agreement (Allstate Life Global Funding)", "score": 18.0, "published": true}], "snippet": "It is the intention of the parties that the Trust constitute a statutory trust organized under the Delaware Statutory Trust Act and that the Trust Agreement constitute the governing instrument of the Trust. Pursuant to Section 3810 of the Delaware Statutory Trust Act, on or before the date of the Trust Agreement, the Delaware Trustee shall file a Certificate of Trust with the Secretary of State to form the Trust. The parties to the Trust Agreement hereby appoint the Delaware Trustee as trustee of the Trust, to have all rights, powers and duties set forth in the Trust Agreement and in accordance with the applicable law, subject to modification by the Trust Agreement, with respect to accomplishing the purposes of the Trust.", "size": 4, "hash": "47425b93d7113f5a9d86d8c1d789207e", "id": 3}, {"snippet_links": [{"key": "any-reference-to", "type": "definition", "offset": [52, 68]}, {"key": "to-the-trust", "type": "definition", "offset": [117, 129]}, {"key": "the-trustees", "type": "clause", "offset": [142, 154]}, {"key": "from-time-to-time", "type": "clause", "offset": [211, 228]}, {"key": "agreement-and-declaration-of-trust", "type": "definition", "offset": [239, 273]}, {"key": "a-copy-of", "type": "clause", "offset": [306, 315]}, {"key": "on-file", "type": "definition", "offset": [325, 332]}, {"key": "the-office", "type": "clause", "offset": [336, 346]}, {"key": "state-of-delaware", "type": "definition", "offset": [377, 394]}, {"key": "office-of-the-fund", "type": "clause", "offset": [416, 434]}, {"key": "obligations-of-the-fund", "type": "clause", "offset": [440, 463]}, {"key": "entered-into", "type": "clause", "offset": [464, 476]}, {"key": "binding-upon", "type": "clause", "offset": [662, 674]}, {"key": "representatives-of-the", "type": "clause", "offset": [712, 734]}, {"key": "fund-property", "type": "clause", "offset": [770, 783]}, {"key": "dealing-with", "type": "clause", "offset": [801, 813]}, {"key": "shares-of-the-fund", "type": "clause", "offset": [827, 845]}, {"key": "to-the-fund", "type": "definition", "offset": [863, 874]}, {"key": "enforcement-of", "type": "clause", "offset": [916, 930]}], "samples": [{"hash": "dgWJ2TfZSYn", "uri": "/contracts/dgWJ2TfZSYn#statutory-trust", "label": "Custodian Services Agreement (PNC Funds)", "score": 21.5749492645, "published": true}, {"hash": "8CcMb86ZphJ", "uri": "/contracts/8CcMb86ZphJ#statutory-trust", "label": "Transfer Agency Services Agreement (PNC Funds)", "score": 21.5749492645, "published": true}], "snippet": "The name \u201cPNC Funds\u201d and of any series thereof, and any reference to the \u201cTrustees\u201d of PNC Funds, refer respectively to the trust created and the Trustees, as trustees but not individually or personally, acting from time to time under the Agreement and Declaration of Trust which is hereby referred to and a copy of which is on file at the office of the State Secretary of the State of Delaware and at the principal office of the Fund. The obligations of the Fund entered into in its name (or in the name of one of its series) or on behalf thereof by any of its Trustees, representatives or agents, are made not individually, but in such capacities, and are not binding upon any of the Trustees, shareholders or representatives of the Fund personally, but bind only the Fund property, and all persons dealing with any class of shares of the Fund must look solely to the Fund property belonging to such class for the enforcement of any claims against the Fund.", "size": 4, "hash": "08af033e209762c5bdac3a03bc4779c6", "id": 4}, {"snippet_links": [{"key": "section-24", "type": "definition", "offset": [2, 13]}, {"key": "trust-beneficial-owner", "type": "clause", "offset": [14, 36]}, {"key": "purposes-of-the-trust", "type": "definition", "offset": [107, 128]}, {"key": "section-26", "type": "clause", "offset": [188, 199]}], "samples": [{"hash": "6hY54maBBrc", "uri": "/contracts/6hY54maBBrc#statutory-trust", "label": "Trust Agreement (Allstate Life Global Funding)", "score": 18.0, "published": true}, {"hash": "1s4ErqRwuoO", "uri": "/contracts/1s4ErqRwuoO#statutory-trust", "label": "Trust Agreement (Allstate Life Global Funding)", "score": 18.0, "published": true}], "snippet": "8 SECTION 2.4 Trust Beneficial Owner.........................................................8 SECTION 2.5 Purposes of the Trust..........................................................8 SECTION 2.6", "size": 3, "hash": "718bdf4530c511582bf15d5442945979", "id": 5}, {"snippet_links": [{"key": "the-owner", "type": "clause", "offset": [16, 25]}, {"key": "statutory-trust-securities", "type": "definition", "offset": [33, 59]}, {"key": "common-securities", "type": "definition", "offset": [69, 86]}, {"key": "grantor-trust", "type": "clause", "offset": [200, 213]}, {"key": "federal-income-tax-purposes", "type": "clause", "offset": [218, 245]}, {"key": "preferred-securities", "type": "definition", "offset": [315, 335]}, {"key": "undivided-beneficial-interest", "type": "definition", "offset": [363, 392]}, {"key": "statutory-trust-debentures", "type": "definition", "offset": [400, 426]}, {"key": "at-the-effective-time", "type": "clause", "offset": [428, 449]}, {"key": "relating-to", "type": "definition", "offset": [521, 532]}, {"key": "obligations-and-rights", "type": "clause", "offset": [578, 600]}, {"key": "statutory-trust-agreements", "type": "definition", "offset": [680, 706]}, {"key": "in-connection", "type": "definition", "offset": [708, 721]}, {"key": "provide-the", "type": "clause", "offset": [865, 876]}, {"key": "documentation-required", "type": "definition", "offset": [877, 899]}, {"key": "assumption-of-obligations", "type": "clause", "offset": [913, 938]}, {"key": "acquisition-of-rights", "type": "clause", "offset": [943, 964]}, {"key": "supplemental-indentures", "type": "definition", "offset": [990, 1013]}, {"key": "certificates-and-opinions-of-counsel", "type": "clause", "offset": [1015, 1051]}, {"key": "terms-of-the", "type": "clause", "offset": [1126, 1138]}, {"key": "prior-to-the-closing", "type": "clause", "offset": [1179, 1199]}, {"key": "accrued-but-unpaid-interest", "type": "definition", "offset": [1283, 1310]}, {"key": "outstanding-fees", "type": "definition", "offset": [1319, 1335]}], "samples": [{"hash": "dPutcByq0rp", "uri": "/contracts/dPutcByq0rp#statutory-trust", "label": "Merger Agreement (Columbia Financial, Inc.)", "score": 30.4291572571, "published": true}, {"hash": "4VyX7C446G2", "uri": "/contracts/4VyX7C446G2#statutory-trust", "label": "Merger Agreement (Stewardship Financial Corp)", "score": 30.4291572571, "published": true}], "snippet": "Stewardship, as the owner of the Statutory Trust Securities that are common securities, will cause the Statutory Trust (a) to remain a statutory trust, (b) to otherwise continue to be classified as a grantor trust for federal income Tax purposes, and (c) to cause each holder of Statutory Trust Securities that are preferred securities to be treated as owning an undivided beneficial interest in the Statutory Trust Debentures. At the Effective Time, Columbia will assume Stewardship\u2019s obligations and acquire its rights relating to the Statutory Trust, including Stewardship\u2019s obligations and rights under the Statutory Trust Debentures, Statutory Trust Securities and the other Statutory Trust Agreements. In connection therewith, Stewardship will assist Columbia in assuming Stewardship\u2019s obligations and acquiring its rights under the Statutory Trust, and will provide the documentation required to make such assumption of obligations and acquisition of rights effective, including any supplemental indentures, certificates and opinions of counsel that may be required under the Statutory Trust Agreements. Subject to the terms of the Statutory Trust Securities, immediately prior to the Closing, Stewardship will pay, or cause to be paid, to the proper Persons all deferred and accrued but unpaid interest and any outstanding fees relating to the Statutory Trust Debentures and the Statutory Trust.", "size": 3, "hash": "697cb300d67d694b7f74ca9a5def5d03", "id": 6}, {"snippet_links": [{"key": "this-agreement", "type": "clause", "offset": [0, 14]}, {"key": "on-behalf-of", "type": "clause", "offset": [27, 39]}, {"key": "trustees-of-the-trust", "type": "clause", "offset": [44, 65]}, {"key": "obligations-of", "type": "clause", "offset": [107, 121]}, {"key": "binding-upon", "type": "clause", "offset": [145, 157]}, {"key": "property-of-the-trust", "type": "clause", "offset": [248, 269]}], "samples": [{"hash": "cnb4raGinTL", "uri": "/contracts/cnb4raGinTL#statutory-trust", "label": "Custody Agreement (Blackstone Private Real Estate Credit & Income Fund)", "score": 37.1560574949, "published": true}, {"hash": "dt54fIqc8Nf", "uri": "/contracts/dt54fIqc8Nf#statutory-trust", "label": "Custody Agreement (Blackstone Private Real Estate Credit & Income Fund)", "score": 36.2826843262, "published": true}], "snippet": "This Agreement is executed on behalf of the Trustees of the Trust as Trustees and not individually and the obligations of this Agreement are not binding upon any of the Trustees or shareholders individually but are binding only upon the assets and property of the Trust.", "size": 3, "hash": "f2c1e7ed34c7ddde4a89ded29d68b17c", "id": 7}, {"snippet_links": [{"key": "the-company-has", "type": "definition", "offset": [0, 15]}, {"key": "the-laws", "type": "definition", "offset": [71, 79]}, {"key": "state-of-delaware", "type": "definition", "offset": [87, 104]}, {"key": "the-board-of-trustees", "type": "clause", "offset": [106, 127]}, {"key": "and-the-shareholders", "type": "clause", "offset": [128, 148]}, {"key": "the-company-shall", "type": "clause", "offset": [184, 201]}, {"key": "the-code", "type": "clause", "offset": [219, 227]}, {"key": "state-tax-laws", "type": "definition", "offset": [232, 246]}, {"key": "an-association", "type": "clause", "offset": [265, 279]}, {"key": "no-shareholder", "type": "clause", "offset": [281, 295]}, {"key": "other-person", "type": "definition", "offset": [381, 393]}, {"key": "this-agreement", "type": "clause", "offset": [414, 428]}], "samples": [{"hash": "kbHb2fBKHtK", "uri": "/contracts/kbHb2fBKHtK#statutory-trust", "label": "Agreement and Declaration of Trust (Restoration Opportunities Fund)", "score": 18.0, "published": true}, {"hash": "dxvWu1It2H3", "uri": "/contracts/dxvWu1It2H3#statutory-trust", "label": "Agreement and Declaration of Trust (Highland Corporate Opportunities Fund)", "score": 18.0, "published": true}], "snippet": "The Company has been formed as a statutory trust under and pursuant to the laws of the state of Delaware. The Board of Trustees and the Shareholders specifically intend and agree that the Company shall, for purposes of the Code and state tax laws, be classified as an association. No Shareholder shall be construed to be a partner in the Company or a partner of any Shareholder or other Person in the Company, and this Agreement and the relationships created thereby and arising therefrom shall not be construed to suggest otherwise.", "size": 2, "hash": "2b2b3f4972f569b22038435e46f63415", "id": 8}, {"snippet_links": [{"key": "the-names", "type": "definition", "offset": [0, 9]}, {"key": "insurance-trust", "type": "clause", "offset": [59, 74]}, {"key": "the-board-of-trustees", "type": "clause", "offset": [99, 120]}, {"key": "declarations-of-trust", "type": "clause", "offset": [163, 184]}, {"key": "dealing-with", "type": "clause", "offset": [201, 213]}, {"key": "property-of-the-fund", "type": "clause", "offset": [245, 265]}, {"key": "enforcement-of", "type": "clause", "offset": [274, 288]}, {"key": "the-trustees", "type": "clause", "offset": [328, 340]}, {"key": "liability-for-obligations", "type": "clause", "offset": [410, 435]}, {"key": "entered-into", "type": "clause", "offset": [436, 448]}, {"key": "on-behalf-of", "type": "clause", "offset": [449, 461]}], "samples": [{"hash": "b3DgPqmZXfz", "uri": "/contracts/b3DgPqmZXfz#statutory-trust", "label": "Fund Administration and Accounting Agreement (Goldman Sachs Variable Insurance Trust)", "score": 20.3223819733, "published": true}, {"hash": "8GORFYWxAJt", "uri": "/contracts/8GORFYWxAJt#statutory-trust", "label": "Fund Administration and Accounting Agreement (Goldman Sachs Trust)", "score": 20.319644928, "published": true}], "snippet": "The names \u201c\u2587\u2587\u2587\u2587\u2587\u2587\u2587 \u2587\u2587\u2587\u2587\u2587 Trust\u201d and \u2587\u2587\u2587\u2587\u2587\u2587\u2587 Sachs Variable Insurance Trust are the designations of the Board of Trustees for the time being under their respective Declarations of Trust and all persons dealing with a Fund must look solely to the property of the Fund for the enforcement of any claims against the Fund as neither the Trustees, officers, agents, nor shareholders of any Fund assumes any personal liability for obligations entered into on behalf of a Fund.", "size": 2, "hash": "3e518838ec6e2c574bb4439cf7941a40", "id": 9}, {"snippet_links": [{"key": "section-3", "type": "definition", "offset": [2, 11]}, {"key": "business-and-powers", "type": "clause", "offset": [32, 51]}, {"key": "section-4", "type": "definition", "offset": [118, 127]}], "samples": [{"hash": "dxvWu1It2H3", "uri": "/contracts/dxvWu1It2H3#statutory-trust", "label": "Agreement and Declaration of Trust (Highland Corporate Opportunities Fund)", "score": 18.0, "published": true}], "snippet": "6 SECTION 3. PURPOSE, NATURE OF BUSINESS AND POWERS.................................................................6 SECTION 4. TERM ..................................................................................................7", "size": 2, "hash": "d605dc965619cdfa73541115c55b8ceb", "id": 10}], "next_curs": "ClgSUmoVc35sYXdpbnNpZGVyY29udHJhY3RzcjQLEhZDbGF1c2VTbmlwcGV0R3JvdXBfdjU2IhhzdGF0dXRvcnktdHJ1c3QjMDAwMDAwMGEMogECZW4YACAA", "clause": {"title": "Statutory Trust", "children": [], "parents": [["creation-of-trust", "CREATION OF TRUST"], ["section-references", "Section References"], ["section-a-trust-agreement", "SECTION A Trust Agreement"], ["notices", "Notices"], ["miscellaneous", "Miscellaneous"]], "size": 51, "id": "statutory-trust", "related": [["statutory-trust-only", "Statutory Trust Only", "<strong>Statutory Trust</strong> Only"], ["anti-trust", "Anti-Trust", "Anti-Trust"], ["real-estate-investment-trust", "Real Estate Investment Trust", "Real Estate Investment Trust"], ["remic-administrator-residential-funding-corporation", "REMIC  Administrator:  Residential Funding  Corporation", "REMIC  Administrator:  Residential Funding  Corporation"], ["supplemental-interest-trust", "Supplemental Interest Trust", "Supplemental Interest Trust"]], "related_snippets": [], "updated": "2026-03-01T04:26:13+00:00", "also_ask": ["What statutory requirements must be met to validly establish the trust?", "How can the trust structure be leveraged for asset protection or tax efficiency?", "What are the most common drafting pitfalls that could invalidate the statutory trust?", "How does a statutory trust differ from common law trusts in terms of beneficiary rights and trustee duties?", "What are the main judicial tests for enforceability of statutory trusts in litigation?"], "drafting_tip": "Specify the statutory basis for the trust to ensure legal validity; define the trust property clearly to avoid ambiguity; outline trustee duties explicitly to ensure enforceability.", "explanation": "A Statutory Trust clause establishes that certain assets or funds are held in trust according to specific legal statutes, rather than under a traditional common law trust. In practice, this means that the assets are managed and protected for the benefit of designated beneficiaries, with the trustee's powers and duties defined by relevant legislation. This clause ensures that the trust arrangement is legally recognized and regulated, providing clarity and security for all parties involved by specifying how the trust is to be administered and what legal protections apply."}, "json": true, "cursor": ""}}