DE HB338

Clarifies that any series of a statutory trust is bound by the governing instrument regardless of whether the series executed it, and confirms the trust itself need not execute its governing instrument to be bound

Adds new provision allowing trustees of statutory trusts to authorize beneficial owners to direct how securities held by the trust are voted, with trustees shielded from liability if they exercise proper standard of care in authorizing such pass-through voting

Requires approval of conversions and domestications to statutory trusts, along with their governing instruments, to occur before the effective date of the certificate rather than before filing

Updates technical references throughout the Delaware Statutory Trust Act, including changing "subchapter" to "chapter" in several sections to clarify that key provisions apply to all of Chapter 38 of Title 12 rather than just Subchapter I

Takes effect August 1, 2024