(2) BANKING.
12-202.

(A) EXCEPT TO THE EXTENT OTHERWISE PROVIDED IN THE GOVERNING
INSTRUMENT OF THE BUSINESS TRUST, A BUSINESS TRUST:

(1) SHALL HAVE PERPETUAL EXISTENCE; AND

(2) MAY NOT BE TERMINATED OR REVOKED BY A BENEFICIAL OWNER
OR OTHER PERSON EXCEPT IN ACCORDANCE WITH THE TERMS OF THE GOVERNING
INSTRUMENT OF THE BUSINESS TRUST.

(B) EXCEPT TO THE EXTENT OTHERWISE PROVIDED, IN THE GOVERNING
INSTRUMENT OF A BUSINESS TRUST, THE DEATH, INCAPACITY, DISSOLUTION,
TERMINATION, OR BANKRUPTCY OF A BENEFICIAL OWNER SHALL NOT RESULT IN
THE TERMINATION OR DISSOLUTION OF A BUSINESS TRUST.

(C) IN THE EVENT THAT A BUSINESS TRUST DOES NOT HAVE PERPETUAL
EXISTENCE, A BUSINESS TRUST IS DISSOLVED AND ITS AFFAIRS SHALL BE WOUND
UP AT THE TIME OR ON THE HAPPENING OF EVENTS SPECIFIED IN THE GOVERNING
INSTRUMENT.

(D) ON DISSOLUTION OF A BUSINESS TRUST AND UNTIL THE FILING OF A
CERTIFICATE OF CANCELLATION AS PROVIDED IN § 12-204(D) OF THIS SUBTITLE, THE
PERSONS WHO, UNDER THE GOVERNING INSTRUMENT OF THE BUSINESS TRUST, ARE
RESPONSIBLE FOR WINDING UP THE BUSINESS TRUST'S AFFAIRS MAY, IN THE NAME
OF AND FOR AND ON BEHALF OF THE BUSINESS TRUST, PROSECUTE AND DEFEND
SUITS, WHETHER CIVIL, CRIMINAL, OR ADMINISTRATIVE, GRADUALLY SETTLE AND
CLOSE THE BUSINESS TRUST BUSINESS, DISPOSE OF AND CONVEY THE BUSINESS
TRUST PROPERTY, DISCHARGE OR MAKE REASONABLE PROVISION FOR THE
BUSINESS TRUST LIABILITIES, AND DISTRIBUTE TO THE BENEFICIAL OWNERS ANY
REMAINING ASSETS OF THE BUSINESS TRUST.

(E) (1) A BUSINESS TRUST WHICH HAS DISSOLVED SHALL PAY OR MAKE
REASONABLE PROVISION TO PAY ALL CLAIMS AND OBLIGATIONS, INCLUDING ALL
CONTINGENT, CONDITIONAL, OR UNMATURED CLAIMS AND OBLIGATIONS, KNOWN
TO THE BUSINESS TRUST AND ALL CLAIMS AND OBLIGATIONS WHICH ARE KNOWN
TO THE BUSINESS TRUST BUT FOR WHICH THE IDENTITY OF THE CLAIMANT IS
UNKNOWN.

(2) IF THERE ARE SUFFICIENT ASSETS, SUCH CLAIMS AND OBLIGATIONS
SHALL BE PAID IN FULL AND ANY SUCH PROVISION FOR PAYMENT SHALL BE MADE
IN FULL.

(3) IF THERE ARE INSUFFICIENT ASSETS, SUCH CLAIMS AND
OBLIGATIONS SHALL BE PAID OR PROVIDED FOR ACCORDING TO THEIR PRIORITY
AND, AMONG CLAIMS AND OBLIGATIONS OF EQUAL PRIORITY, RATABLY TO THE
EXTENT OF ASSETS AVAILABLE.