Virginia § 13.1-1234 Dissolution generally

Virginia Statutes

§ 13.1-1234 — Dissolution generally

Virginia § 13.1-1234

Title 13.1CORPORATIONS

Ch. 14VIRGINIA BUSINESS TRUST ACT

Art. 8DISSOLUTION

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Bluebook

Va. Code Ann. § 13.1-1234 (2026).

Text

A business trust organized under this chapter is dissolved and its affairs shall be wound up upon the happening of the first to occur of the following events:

1.At the time or on the happening of any events specified in writing in the articles of trust or a governing instrument;

2.Upon the unanimous written consent of the beneficial owners;

3.The entry of a decree of judicial dissolution under § 13.1-1235;

4.Automatic cancellation of its existence pursuant to § 13.1-1238.1; or

5.Involuntary cancellation of its existence pursuant to § 13.1-1238.2.

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A business trust organized under this chapter is dissolved and its affairs shall be wound up upon the happening of the first to occur of the following events:

1. At the time or on the happening of any events specified in writing in the articles of trust or a governing instrument;

2. Upon the unanimous written consent of the beneficial owners;

3. The entry of a decree of judicial dissolution under § 13.1-1235;

4. Automatic cancellation of its existence pursuant to § 13.1-1238.1; or

5. Involuntary cancellation of its existence pursuant to § 13.1-1238.2.