Article 1016. The essential terms of the contract of trust management of property.
1. The following shall be indicated in the contract of trust management of property: the composition of the property transferred in trust management; the name of the legal entity or the name of the citizen, in whose interests the property is managed (founder of management or beneficiary); the size and form of remuneration of the manager, if the payment of remuneration is provided for by the contract; contract time. 2. A contract of trust management of property shall be concluded for a period not exceeding five years. For certain types of property transferred into trust management, the law may establish other deadlines for which a contract may be concluded. In the absence of a statement by one of the parties to terminate the contract at the end of its term, it is considered extended for the same period and on the same conditions as were provided by the contract.
References to other articles of chapter 53. Trust management of property: