{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/13.1-1210.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/13.1-1210.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/13.1-1210.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/13.1-1210.html"}],"law_id":73430,"edition_id":1,"section_id":73430,"structure_id":14984,"section_number":"13.1-1210","catch_line":"Powers","history":"2002, c. 621; 2008, c. 101.","full_text":"Unless the articles of trust provide otherwise, every business trust has the same powers as an individual or any other entity to do all things necessary or convenient to carry out its business and affairs, including, without limitation, the power:\n\n1\n\nTo sue and be sued, complain and defend in its name;2\n\nTo purchase, receive, lease or otherwise acquire, and own, hold, improve, use and otherwise deal with, real or personal property, or any legal or equitable interest in property, wherever located;3\n\nTo sell, convey, mortgage, pledge, lease, exchange, and otherwise dispose of all or any part of its property;4\n\nTo purchase, receive, subscribe for, or otherwise acquire, own, hold, vote, use, sell, mortgage, lend, pledge, or otherwise dispose of, and deal in and with shares or other interests in, or obligations of, any other person;5\n\nTo make contracts and guaranties, incur liabilities, borrow money, issue its notes, bonds, and other obligations, and secure any of its obligations by mortgage or pledge of any of its property, franchises or income;6\n\nTo lend money, invest and reinvest its funds, and receive and hold real and personal property as security for repayment;7\n\nTo conduct its business, locate offices, and exercise the powers granted by this chapter within or without this Commonwealth;8\n\nTo elect and appoint trustees, officers, employees and agents of the business trust, define their duties, fix their compensation, and lend them money and credit;9\n\nTo pay pensions and establish pension plans, pension trusts, profit-sharing plans, and benefit and incentive plans for all or any of the current or former beneficial owners, trustees, officers, employees, and agents of the business trust or any of its subsidiaries;10\n\nTo make donations to the public welfare or for religious, charitable, scientific, literary or educational purposes;11\n\nTo make payments or donations or do any other act, not inconsistent with this section or any other applicable law, that furthers the business and affairs of the business trust;12\n\nTo pay compensation, or to pay additional compensation, to any or all beneficial owners, trustees, officers and employees on account of services previously rendered to the business trust, whether or not an agreement to pay such compensation was made before such services were rendered;13\n\nTo insure for its benefit the life of any of its beneficial owners, trustees, officers or employees, to insure the life of any beneficial owner for the purpose of acquiring at his death the interest owned by such beneficial owner and to continue such insurance after the relationship terminates;14\n\nTo cease its activities, wind up its affairs, and proceed to cancel its existence;15\n\nTo enter into partnership agreements, joint ventures, or other associations of any kind with any person or persons;16\n\nTo indemnify a trustee, officer, employee or any other person to the same extent as a corporation may indemnify any of the directors, officers, employees or agents of the corporation;17\n\nTo transact any lawful business that a corporation, partnership, limited liability company or other business entity may conduct under the laws of the Commonwealth subject, however, to any and all laws and restrictions that govern or limit the conduct of such activity by such corporation, partnership, limited liability company or other business entity; and18\n\nTo have and exercise all powers necessary or convenient to effect any or all of the purposes for which the business trust is organized.","order_by":null,"text":{"0":{"id":264235,"text":"Unless the articles of trust provide otherwise, every business trust has the same powers as an individual or any other entity to do all things necessary or convenient to carry out its business and affairs, including, without limitation, the power:","type":"section","prefixes":[""],"prefix":"","entire_prefix":"","prefix_anchor":"","level":1,"next_prefix":"1"},"1":{"id":264236,"text":"To sue and be sued, complain and defend in its name;","type":"section","prefixes":["1"],"prefix":"1","entire_prefix":"1","prefix_anchor":"1","level":1,"prior_prefix":"","next_prefix":"2"},"2":{"id":264237,"text":"To purchase, receive, lease or otherwise acquire, and own, hold, improve, use and otherwise deal with, real or personal property, or any legal or equitable interest in property, wherever located;","type":"section","prefixes":["2"],"prefix":"2","entire_prefix":"2","prefix_anchor":"2","level":1,"prior_prefix":"1","next_prefix":"3"},"3":{"id":264238,"text":"To sell, convey, mortgage, pledge, lease, exchange, and otherwise dispose of all or any part of its property;","type":"section","prefixes":["3"],"prefix":"3","entire_prefix":"3","prefix_anchor":"3","level":1,"prior_prefix":"2","next_prefix":"4"},"4":{"id":264239,"text":"To purchase, receive, subscribe for, or otherwise acquire, own, hold, vote, use, sell, mortgage, lend, pledge, or otherwise dispose of, and deal in and with shares or other interests in, or obligations of, any other person;","type":"section","prefixes":["4"],"prefix":"4","entire_prefix":"4","prefix_anchor":"4","level":1,"prior_prefix":"3","next_prefix":"5"},"5":{"id":264240,"text":"To make contracts and guaranties, incur liabilities, borrow money, issue its notes, bonds, and other obligations, and secure any of its obligations by mortgage or pledge of any of its property, franchises or income;","type":"section","prefixes":["5"],"prefix":"5","entire_prefix":"5","prefix_anchor":"5","level":1,"prior_prefix":"4","next_prefix":"6"},"6":{"id":264241,"text":"To lend money, invest and reinvest its funds, and receive and hold real and personal property as security for repayment;","type":"section","prefixes":["6"],"prefix":"6","entire_prefix":"6","prefix_anchor":"6","level":1,"prior_prefix":"5","next_prefix":"7"},"7":{"id":264242,"text":"To conduct its business, locate offices, and exercise the powers granted by this chapter within or without this Commonwealth;","type":"section","prefixes":["7"],"prefix":"7","entire_prefix":"7","prefix_anchor":"7","level":1,"prior_prefix":"6","next_prefix":"8"},"8":{"id":264243,"text":"To elect and appoint trustees, officers, employees and agents of the business trust, define their duties, fix their compensation, and lend them money and credit;","type":"section","prefixes":["8"],"prefix":"8","entire_prefix":"8","prefix_anchor":"8","level":1,"prior_prefix":"7","next_prefix":"9"},"9":{"id":264244,"text":"To pay pensions and establish pension plans, pension trusts, profit-sharing plans, and benefit and incentive plans for all or any of the current or former beneficial owners, trustees, officers, employees, and agents of the business trust or any of its subsidiaries;","type":"section","prefixes":["9"],"prefix":"9","entire_prefix":"9","prefix_anchor":"9","level":1,"prior_prefix":"8","next_prefix":"10"},"10":{"id":264245,"text":"To make donations to the public welfare or for religious, charitable, scientific, literary or educational purposes;","type":"section","prefixes":["10"],"prefix":"10","entire_prefix":"10","prefix_anchor":"10","level":1,"prior_prefix":"9","next_prefix":"11"},"11":{"id":264246,"text":"To make payments or donations or do any other act, not inconsistent with this section or any other applicable law, that furthers the business and affairs of the business trust;","type":"section","prefixes":["11"],"prefix":"11","entire_prefix":"11","prefix_anchor":"11","level":1,"prior_prefix":"10","next_prefix":"12"},"12":{"id":264247,"text":"To pay compensation, or to pay additional compensation, to any or all beneficial owners, trustees, officers and employees on account of services previously rendered to the business trust, whether or not an agreement to pay such compensation was made before such services were rendered;","type":"section","prefixes":["12"],"prefix":"12","entire_prefix":"12","prefix_anchor":"12","level":1,"prior_prefix":"11","next_prefix":"13"},"13":{"id":264248,"text":"To insure for its benefit the life of any of its beneficial owners, trustees, officers or employees, to insure the life of any beneficial owner for the purpose of acquiring at his death the interest owned by such beneficial owner and to continue such insurance after the relationship terminates;","type":"section","prefixes":["13"],"prefix":"13","entire_prefix":"13","prefix_anchor":"13","level":1,"prior_prefix":"12","next_prefix":"14"},"14":{"id":264249,"text":"To cease its activities, wind up its affairs, and proceed to cancel its existence;","type":"section","prefixes":["14"],"prefix":"14","entire_prefix":"14","prefix_anchor":"14","level":1,"prior_prefix":"13","next_prefix":"15"},"15":{"id":264250,"text":"To enter into partnership agreements, joint ventures, or other associations of any kind with any person or persons;","type":"section","prefixes":["15"],"prefix":"15","entire_prefix":"15","prefix_anchor":"15","level":1,"prior_prefix":"14","next_prefix":"16"},"16":{"id":264251,"text":"To indemnify a trustee, officer, employee or any other person to the same extent as a corporation may indemnify any of the directors, officers, employees or agents of the corporation;","type":"section","prefixes":["16"],"prefix":"16","entire_prefix":"16","prefix_anchor":"16","level":1,"prior_prefix":"15","next_prefix":"17"},"17":{"id":264252,"text":"To transact any lawful business that a corporation, partnership, limited liability company or other business entity may conduct under the laws of the Commonwealth subject, however, to any and all laws and restrictions that govern or limit the conduct of such activity by such corporation, partnership, limited liability company or other business entity; and","type":"section","prefixes":["17"],"prefix":"17","entire_prefix":"17","prefix_anchor":"17","level":1,"prior_prefix":"16","next_prefix":"18"},"18":{"id":264253,"text":"To have and exercise all powers necessary or convenient to effect any or all of the purposes for which the business trust is organized.","type":"section","prefixes":["18"],"prefix":"18","entire_prefix":"18","prefix_anchor":"18","level":1,"prior_prefix":"17"}},"ancestry":[{"id":14984,"edition_id":1,"name":"Formation","identifier":"2","label":"article","depth":3,"order_by":1,"parent_id":12745,"metadata":{},"date_created":"2026-06-26 03:51:18","date_modified":"2026-06-26 03:51:18","permalink":{"id":149305,"object_type":"structure","relational_id":14984,"identifier":"2","token":"13.1\/14\/2","url":"\/13.1\/14\/2\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12745,"edition_id":1,"name":"Virginia Business Trust Act","identifier":"14","label":"chapter","depth":2,"order_by":1,"parent_id":12744,"metadata":{},"date_created":"2026-06-26 03:43:51","date_modified":"2026-06-26 03:43:51","permalink":{"id":149111,"object_type":"structure","relational_id":12745,"identifier":"14","token":"13.1\/14","url":"\/13.1\/14\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12744,"edition_id":1,"name":"Corporations","identifier":"13.1","label":"title","depth":1,"order_by":1,"parent_id":null,"metadata":{},"date_created":"2026-06-26 03:43:51","date_modified":"2026-06-26 03:43:51","permalink":{"id":147493,"object_type":"structure","relational_id":12744,"identifier":"13.1","token":"13.1","url":"\/13.1\/","edition_id":1,"permalink":0,"preferred":1}}],"structure_contents":[{"id":59719,"structure_id":14984,"section_number":"13.1-1209","catch_line":"Purposes","url":"\/13.1-1209\/","token":"13.1\/14\/2\/13.1-1209","metadata":false},{"id":73430,"structure_id":14984,"section_number":"13.1-1210","catch_line":"Powers","url":"\/13.1-1210\/","token":"13.1\/14\/2\/13.1-1210","metadata":false},{"id":87115,"structure_id":14984,"section_number":"13.1-1211","catch_line":"Formation","url":"\/13.1-1211\/","token":"13.1\/14\/2\/13.1-1211","metadata":false},{"id":76794,"structure_id":14984,"section_number":"13.1-1212","catch_line":"Articles of trust","url":"\/13.1-1212\/","token":"13.1\/14\/2\/13.1-1212","metadata":false},{"id":82051,"structure_id":14984,"section_number":"13.1-1213","catch_line":"Articles of correction","url":"\/13.1-1213\/","token":"13.1\/14\/2\/13.1-1213","metadata":false},{"id":68645,"structure_id":14984,"section_number":"13.1-1214","catch_line":"Name","url":"\/13.1-1214\/","token":"13.1\/14\/2\/13.1-1214","metadata":false},{"id":87380,"structure_id":14984,"section_number":"13.1-1215","catch_line":"Reserved name","url":"\/13.1-1215\/","token":"13.1\/14\/2\/13.1-1215","metadata":false},{"id":57174,"structure_id":14984,"section_number":"13.1-1216","catch_line":"Amendment of articles of trust","url":"\/13.1-1216\/","token":"13.1\/14\/2\/13.1-1216","metadata":false},{"id":81214,"structure_id":14984,"section_number":"13.1-1217","catch_line":"Restatement of articles of trust","url":"\/13.1-1217\/","token":"13.1\/14\/2\/13.1-1217","metadata":false},{"id":81602,"structure_id":14984,"section_number":"13.1-1218","catch_line":"Existence","url":"\/13.1-1218\/","token":"13.1\/14\/2\/13.1-1218","metadata":false},{"id":84854,"structure_id":14984,"section_number":"13.1-1219","catch_line":"Governing instrument","url":"\/13.1-1219\/","token":"13.1\/14\/2\/13.1-1219","metadata":false}],"previous_section":{"id":59719,"structure_id":14984,"section_number":"13.1-1209","catch_line":"Purposes","url":"\/13.1-1209\/","token":"13.1\/14\/2\/13.1-1209","metadata":false},"next_section":{"id":87115,"structure_id":14984,"section_number":"13.1-1211","catch_line":"Formation","url":"\/13.1-1211\/","token":"13.1\/14\/2\/13.1-1211","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/13.1-1210\/","history_text":"

This law was first created in 2002. The record of its establishment is cataloged in chapter 621<\/a> of that year\u2019s edition of \u201cActs of Assembly,\u201d the annual state publication listing all changes made to the Code of Virginia in that year. It has been modified 1 time. Those modifications are cataloged by \u201cThe Acts of Assembly,\u201d a state publication, by year and chapter. Those modifications that can be read on the General Assembly\u2019s website will be linked accordingly. That modification is as follows: in 2008, chapter 101<\/a>.<\/p>","references":false,"refers_to":false,"permalink":{"id":149311,"object_type":"law","relational_id":73430,"identifier":"13.1-1210","token":"13.1\/14\/2\/13.1-1210","url":"\/13.1-1210\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/13.1-1210\/","token":"13.1\/14\/2\/13.1-1210","dublin_core":{"Title":"Powers","Type":"Text","Format":"text\/html","Identifier":"\u00a7 13.1-1210","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

Unless the articles of trust<\/span> provide otherwise, every business trust<\/span> has the same powers as an individual or any other entity<\/span> to do all things necessary or convenient to carry out its business and affairs, including, without limitation, the power:<\/p><\/section>\n\t\t\t\t\t\t

1.<\/span> To sue and be sued, complain and defend in its name; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

2.<\/span> To purchase, receive, lease or otherwise acquire, and own, hold, improve, use and otherwise deal with, real or personal property, or any legal or equitable<\/span> interest in property, wherever located; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

3.<\/span> To sell, convey, mortgage, pledge, lease, exchange, and otherwise dispose of all or any part of its property; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

4.<\/span> To purchase, receive, subscribe for, or otherwise acquire, own, hold, vote, use, sell, mortgage, lend, pledge, or otherwise dispose of, and deal in and with shares or other interests in, or obligations of, any other person<\/span>; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

5.<\/span> To make contracts<\/span> and guaranties, incur liabilities, borrow money, issue<\/span> its notes, bonds<\/span>, and other obligations, and secure any of its obligations by mortgage or pledge of any of its property, franchises or income; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

6.<\/span> To lend money, invest and reinvest its funds, and receive and hold real and personal property as security for repayment; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

7.<\/span> To conduct its business, locate offices, and exercise the powers granted by this chapter within or without this Commonwealth; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

8.<\/span> To elect and appoint trustees<\/span>, officers, employees and agents of the business trust<\/span>, define their duties, fix their compensation, and lend them money and credit; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

9.<\/span> To pay pensions and establish pension plans, pension trusts<\/span>, profit-sharing plans, and benefit and incentive plans for all or any of the current or former beneficial owners<\/span>, trustees<\/span>, officers, employees, and agents of the business trust<\/span> or any of its subsidiaries; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

10.<\/span> To make donations to the public welfare or for religious, charitable, scientific, literary or educational purposes; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

11.<\/span> To make payments or donations or do any other act, not inconsistent with this section or any other applicable law<\/span>, that furthers the business and affairs of the business trust<\/span>; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

12.<\/span> To pay compensation, or to pay additional compensation, to any or all beneficial owners<\/span>, trustees<\/span>, officers and employees on account of services previously rendered to the business trust<\/span>, whether or not an agreement to pay such compensation was made before such services were rendered; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

13.<\/span> To insure for its benefit the life of any of its beneficial owners<\/span>, trustees<\/span>, officers or employees, to insure the life of any beneficial owner<\/span> for the purpose of acquiring at his death the interest owned by such beneficial owner<\/span> and to continue such insurance after the relationship terminates; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

14.<\/span> To cease its activities, wind up its affairs, and proceed to cancel its existence; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

15.<\/span> To enter into partnership agreements, joint ventures, or other associations of any kind with any person<\/span> or persons<\/span>; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

16.<\/span> To indemnify a trustee<\/span>, officer, employee or any other person<\/span> to the same extent as a corporation may indemnify any of the directors, officers, employees or agents of the corporation; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

17.<\/span> To transact any lawful business that a corporation, partnership, limited liability company or other business entity<\/span> may conduct under the laws<\/span> of the Commonwealth subject, however, to any and all laws<\/span> and restrictions that govern or limit the conduct of such activity by such corporation, partnership, limited liability company or other business entity<\/span>; and <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

18.<\/span> To have and exercise all powers necessary or convenient to effect any or all of the purposes for which the business trust<\/span> is organized. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nPOWERS (\u00a7 13.1-1210)\n\nUnless the articles of trust provide otherwise, every business trust has the\nsame powers as an individual or any other entity to do all things necessary or\nconvenient to carry out its business and affairs, including, without limitation,\nthe power:\n\n1. To sue and be sued, complain and defend in its name;\n\n2. To purchase, receive, lease or otherwise acquire, and own, hold, improve, use\nand otherwise deal with, real or personal property, or any legal or equitable\ninterest in property, wherever located;\n\n3. To sell, convey, mortgage, pledge, lease, exchange, and otherwise dispose of\nall or any part of its property;\n\n4. To purchase, receive, subscribe for, or otherwise acquire, own, hold, vote,\nuse, sell, mortgage, lend, pledge, or otherwise dispose of, and deal in and with\nshares or other interests in, or obligations of, any other person;\n\n5. To make contracts and guaranties, incur liabilities, borrow money, issue its\nnotes, bonds, and other obligations, and secure any of its obligations by\nmortgage or pledge of any of its property, franchises or income;\n\n6. To lend money, invest and reinvest its funds, and receive and hold real and\npersonal property as security for repayment;\n\n7. To conduct its business, locate offices, and exercise the powers granted by\nthis chapter within or without this Commonwealth;\n\n8. To elect and appoint trustees, officers, employees and agents of the business\ntrust, define their duties, fix their compensation, and lend them money and\ncredit;\n\n9. To pay pensions and establish pension plans, pension trusts, profit-sharing\nplans, and benefit and incentive plans for all or any of the current or former\nbeneficial owners, trustees, officers, employees, and agents of the business\ntrust or any of its subsidiaries;\n\n10. To make donations to the public welfare or for religious, charitable,\nscientific, literary or educational purposes;\n\n11. To make payments or donations or do any other act, not inconsistent with\nthis section or any other applicable law, that furthers the business and affairs\nof the business trust;\n\n12. To pay compensation, or to pay additional compensation, to any or all\nbeneficial owners, trustees, officers and employees on account of services\npreviously rendered to the business trust, whether or not an agreement to pay\nsuch compensation was made before such services were rendered;\n\n13. To insure for its benefit the life of any of its beneficial owners,\ntrustees, officers or employees, to insure the life of any beneficial owner for\nthe purpose of acquiring at his death the interest owned by such beneficial\nowner and to continue such insurance after the relationship terminates;\n\n14. To cease its activities, wind up its affairs, and proceed to cancel its\nexistence;\n\n15. To enter into partnership agreements, joint ventures, or other associations\nof any kind with any person or persons;\n\n16. To indemnify a trustee, officer, employee or any other person to the same\nextent as a corporation may indemnify any of the directors, officers, employees\nor agents of the corporation;\n\n17. To transact any lawful business that a corporation, partnership, limited\nliability company or other business entity may conduct under the laws of the\nCommonwealth subject, however, to any and all laws and restrictions that govern\nor limit the conduct of such activity by such corporation, partnership, limited\nliability company or other business entity; and\n\n18. To have and exercise all powers necessary or convenient to effect any or all\nof the purposes for which the business trust is organized.\n\nHISTORY: 2002, c. 621; 2008, c. 101.","edition":{"id":1,"name":"2025","slug":"2025","date_created":"2026-06-21 22:39:22","date_modified":"2026-06-21 22:39:22","current":1,"order_by":1,"last_import":null}}