- (a) Notwithstanding § 3-709 of this article, the provisions of Title 3, Subtitle 7 of this article apply to a statutory trust formed on or after October 1, 2023, that is a closed-end investment company as defined in the Investment Company Act of 1940.
- (b) Notwithstanding § 3-709 of this article, the governing instrument of a statutory trust formed before October 1, 2023, that is a closed-end investment company as defined in the Investment Company Act of 1940 may provide that Title 3, Subtitle 7 of this article applies to the statutory trust.
Added by Acts 2023, c. 560, § 1, eff. Oct. 1, 2023.