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2008 SESSION

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SB 360 Business Trust Act; reorganizes provisions.

Introduced by: John C. Watkins | all patrons    ...    notes | add to my profiles

SUMMARY AS INTRODUCED:

Virginia Business Trust Act.  Reorganizes provisions of the Virginia Business Trust Act regarding the winding up, cancellation, and reinstatement of business trusts. The revisions to the structure of the Act conform to the organization of the Virginia Stock and Nonstock Corporation Acts. Other provisions address the involuntary cancellation and reinstatement of foreign business trusts and the cancellation of a business trust's existence. The measure also authorizes the removal of the initial registered office and registered agent information in the articles of trust if a statement of change is on file with the Commission, and makes technical clarifications.


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