Court accountings. Unless ordered by a court of competent jurisdiction the bank or trust company operating such common trust funds is not required to render a court accounting with regard to such common trust funds; but it may, by application to the Superior Court of the District of Columbia, secure approval of such accounting on such conditions as the Court may establish. (Oct. 27, 1949, 63 Stat. 938, ch. 767, § 3; July 29, 1970, 84 Stat. 572, Pub. L. 91-358, title I, § 155(c) (34).) Prior Codifications 1981 Ed., § 26-303. 1973 Ed., § 26-703. Editor's Notes Uniform Law: This section is based upon § 2 of the Uniform Common Trust Fund Act.
District of Columbia Legal Code