§ 13.1-1284. Application to existing real estate investment trusts and foreign business trusts
Unless otherwise provided, the provisions of this chapter shall apply to all real estate investment trusts created under former Chapter 9 (§ 6-577 et seq.) of Title 6 and Chapter 9 (§ 6.1-343 et seq.) of Title 6.1 as in effect immediately prior to the effective date of this chapter. The declaration of trust of […]
§ 13.1-1285. Property title records
A. Whenever the records in the office of the clerk of the Commission reflect that a domestic or foreign business trust has changed or corrected its name, merged into a domestic or foreign corporation, limited liability company, business trust, limited partnership or partnership, converted into a domestic or foreign corporation, limited liability company, limited partnership […]
§ 13.1-1279. Inspection of records by beneficial owners
A. Subject to subsection C of § 13.1-1280, a beneficial owner of a business trust is entitled to inspect and copy, during regular business hours at the business trust’s principal office, any of the records of the business trust described in subsection E of § 13.1-1278 if he gives the business trust written notice of […]
§ 13.1-1280. Scope of inspection right
A. A beneficial owner’s agent or attorney has the same inspection and copying rights as the beneficial owner he represents. B. The right to copy records under § 13.1-1279 includes, if reasonable, the right to receive copies made by photographic or other means. C. The business trust may impose a reasonable charge, covering the costs […]
§ 13.1-1281. Court-ordered inspection
A. If a business trust does not allow a beneficial owner who complies with subsection A of § 13.1-1279 to inspect and copy any records required by that subsection to be available for inspection, the circuit court in the city or county where the business trust’s principal office is located, or, if none in this […]
§ 13.1-1282. Construction and application of chapter and governing instrument
A. The rule that statutes in derogation of the common law are to be strictly construed shall have no application to this chapter. B. This chapter shall be construed in furtherance of the policies of giving maximum effect to the principle of freedom of contract and of enforcing governing instruments. C. To the extent any […]
§ 13.1-1283. Reservation of power to amend or repeal
The General Assembly shall have the power to amend or repeal all or part of this chapter at any time and all domestic and foreign business trusts subject to this chapter shall be subject to the amendment or repeal. 2002, c. 621.
§ 13.1-1278. Trust records
A. A business trust shall keep minutes of all meetings of its beneficial owners and trustees, a record of all actions taken by the beneficial owners or trustees without a meeting, and a record of all actions taken by a committee of the trustees on behalf of the business trust. B. A business trust shall […]
§ 13.1-1274. Action on plan of entity conversion
A. In the case of a domestic business trust that is a converting entity, unless the articles of trust or governing instrument of the business trust provides otherwise, the plan of entity conversion shall be approved by the trustees of the business trust in the manner provided in a written governing instrument for amendments to […]
§ 13.1-1275. Articles of entity conversion
A. After the conversion of a domestic business trust into a domestic limited liability company has been approved as required by this article, the converting entity shall deliver to the Commission for filing articles of entity conversion setting forth: 1. The name of the domestic business trust immediately before the filing of the articles of […]