DE SB243

Allows statutory trusts to operate as separate legal entities unless otherwise provided in their certificate of trust and governing instrument, providing flexibility in entity structure.

Permits series within statutory trusts to contract, hold title to assets, and sue/be sued in the series name, while allowing trusts to agree that series debts can be enforceable against the main trust or vice versa.

Establishes that trustees of investment company registered statutory trusts have the same fiduciary duties as directors of private for-profit corporations under Delaware law.

Enables delegation of trustee powers to be irrevocable if stated in the governing instrument, and allows irrevocable powers of attorney/proxies to remain valid despite the principal's death, disability, or dissolution.

Clarifies dissolution revocation procedures, allowing statutory trusts to continue by affirmative vote or written consent following triggering events, with specific provisions for vote-triggered versus event-triggered dissolutions.