{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/13.1-1229.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/13.1-1229.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/13.1-1229.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/13.1-1229.html"}],"law_id":63857,"edition_id":1,"section_id":63857,"structure_id":15555,"section_number":"13.1-1229","catch_line":"Trustee standards of conduct; trustee liability; restrictions on liability limitations in governing instrument","history":"2002, c. 621.","full_text":"A\n\nA trustee shall discharge his duties as a trustee in accordance with the standards of conduct provided for directors of a Virginia corporation pursuant to §§ 13.1-690 and 13.1-691.B\n\nSubject to the provisions of subsection C, and except to the extent otherwise provided in the articles of trust or in the governing instrument of a business trust, a trustee, when acting in such capacity, is not personally liable to any person other than the business trust or a beneficial owner for any act, omission, or obligation of the business trust or any trustee.C\n\nA trustee or officer of a business trust shall have no liability to the business trust or a beneficial owner for any act or omission greater than that of directors or officers of a Virginia corporation to the corporation as provided in Chapter 9 (§ 13.1-601 et seq.) of this title, including any elimination of liability provided for in the articles of trust or governing instrument.","order_by":null,"text":{"0":{"id":232596,"text":"A trustee shall discharge his duties as a trustee in accordance with the standards of conduct provided for directors of a Virginia corporation pursuant to §§ 13.1-690 and 13.1-691.","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"B"},"1":{"id":232597,"text":"Subject to the provisions of subsection C, and except to the extent otherwise provided in the articles of trust or in the governing instrument of a business trust, a trustee, when acting in such capacity, is not personally liable to any person other than the business trust or a beneficial owner for any act, omission, or obligation of the business trust or any trustee.","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A","next_prefix":"C"},"2":{"id":232598,"text":"A trustee or officer of a business trust shall have no liability to the business trust or a beneficial owner for any act or omission greater than that of directors or officers of a Virginia corporation to the corporation as provided in Chapter 9 (§ 13.1-601 et seq.) of this title, including any elimination of liability provided for in the articles of trust or governing instrument.","type":"section","prefixes":["C"],"prefix":"C","entire_prefix":"C","prefix_anchor":"C","level":1,"prior_prefix":"B"}},"ancestry":[{"id":15555,"edition_id":1,"name":"Trustees","identifier":"5","label":"article","depth":3,"order_by":1,"parent_id":12745,"metadata":{},"date_created":"2026-06-26 03:56:17","date_modified":"2026-06-26 03:56:17","permalink":{"id":149387,"object_type":"structure","relational_id":15555,"identifier":"5","token":"13.1\/14\/5","url":"\/13.1\/14\/5\/","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":59334,"structure_id":15555,"section_number":"13.1-1228","catch_line":"Trustee management; limitation on duties and liabilities of others","url":"\/13.1-1228\/","token":"13.1\/14\/5\/13.1-1228","metadata":false},{"id":63857,"structure_id":15555,"section_number":"13.1-1229","catch_line":"Trustee standards of conduct; trustee liability; restrictions on liability limitations in governing instrument","url":"\/13.1-1229\/","token":"13.1\/14\/5\/13.1-1229","metadata":false},{"id":74257,"structure_id":15555,"section_number":"13.1-1230","catch_line":"Indemnification","url":"\/13.1-1230\/","token":"13.1\/14\/5\/13.1-1230","metadata":false}],"previous_section":{"id":59334,"structure_id":15555,"section_number":"13.1-1228","catch_line":"Trustee management; limitation on duties and liabilities of others","url":"\/13.1-1228\/","token":"13.1\/14\/5\/13.1-1228","metadata":false},"next_section":{"id":74257,"structure_id":15555,"section_number":"13.1-1230","catch_line":"Indemnification","url":"\/13.1-1230\/","token":"13.1\/14\/5\/13.1-1230","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/13.1-1229\/","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.<\/p>","references":false,"refers_to":[{"id":62759,"section_number":"13.1-601","catch_line":"Short title","order_by":null,"url":"\/13.1-601\/"},{"id":72306,"section_number":"13.1-690","catch_line":"General standards of conduct for director","order_by":null,"url":"\/13.1-690\/"}],"permalink":{"id":149393,"object_type":"law","relational_id":63857,"identifier":"13.1-1229","token":"13.1\/14\/5\/13.1-1229","url":"\/13.1-1229\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/13.1-1229\/","token":"13.1\/14\/5\/13.1-1229","dublin_core":{"Title":"Trustee standards of conduct; trustee liability; restrictions on liability limitations in governing instrument","Type":"Text","Format":"text\/html","Identifier":"\u00a7 13.1-1229","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

A.<\/span> A trustee<\/span> shall discharge his duties as a trustee<\/span> in accordance with the standards of conduct provided for directors of a Virginia corporation pursuant to §§ 13.1-690<\/a> and 13.1-691<\/a>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> Subject to the provisions of subsection C, and except to the extent otherwise provided in the articles of trust<\/span> or in the governing instrument<\/span> of a business trust<\/span>, a trustee<\/span>, when acting in such capacity, is not personally liable to any person<\/span> other than the business trust<\/span> or a beneficial owner<\/span> for any act, omission, or obligation of the business trust<\/span> or any trustee<\/span>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

C.<\/span> A trustee<\/span> or officer of a business trust<\/span> shall have no liability to the business trust<\/span> or a beneficial owner<\/span> for any act or omission greater than that of directors or officers of a Virginia corporation to the corporation as provided in Chapter 9 (§ 13.1-601<\/a> et seq.) of this title, including any elimination of liability provided for in the articles of trust<\/span> or governing instrument<\/span>. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nTRUSTEE STANDARDS OF CONDUCT; TRUSTEE LIABILITY; RESTRICTIONS ON LIABILITY\nLIMITATIONS IN GOVERNING INSTRUMENT (\u00a7 13.1-1229)\n\nA. A trustee shall discharge his duties as a trustee in accordance with the\nstandards of conduct provided for directors of a Virginia corporation pursuant\nto §§ 13.1-690 and 13.1-691.\n\nB. Subject to the provisions of subsection C, and except to the extent otherwise\nprovided in the articles of trust or in the governing instrument of a business\ntrust, a trustee, when acting in such capacity, is not personally liable to any\nperson other than the business trust or a beneficial owner for any act,\nomission, or obligation of the business trust or any trustee.\n\nC. A trustee or officer of a business trust shall have no liability to the\nbusiness trust or a beneficial owner for any act or omission greater than that\nof directors or officers of a Virginia corporation to the corporation as\nprovided in Chapter 9 (§ 13.1-601 et seq.) of this title, including any\nelimination of liability provided for in the articles of trust or governing\ninstrument.\n\nHISTORY: 2002, c. 621.","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}}