A statutory law is one that is passed and added into existing legislation. Once a law is passed, it will be written into legislation.
Statutory laws can vary in terms of how they are derived; some come from administrative law and others are a result of clarification or additions to regulatory laws.
Statutory laws are strictly defined by the courts and are not subject to interpretation like common law is. Where a judge has discretion in the sentencing guidelines of a common law case, they would not have the same in a statutory law case.
Statutory law is federal in its application, such as the minimum drinking age.