{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/13.1-1230.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/13.1-1230.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/13.1-1230.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/13.1-1230.html"}],"law_id":74257,"edition_id":1,"section_id":74257,"structure_id":15555,"section_number":"13.1-1230","catch_line":"Indemnification","history":"2002, c. 621.","full_text":"A\n\nA business trust shall have the power to indemnify and hold harmless any trustee, officer, employee or agent from and against any and all claims and demands to the same extent as a director, officer, employee or agent of a Virginia corporation under Chapter 9 (§ 13.1-601 et seq.) of this title.B\n\nA trustee or officer of a business trust shall be entitled to mandatory indemnification to the same extent as a director or officer of a Virginia corporation under Chapter 9 (§ 13.1-601 et seq.) of this title.C\n\nA trustee or officer may apply for court-ordered indemnification in the same manner as a director or officer of a Virginia corporation pursuant to § 13.1-700.1.D\n\nA business trust may purchase and maintain insurance on behalf of an individual who is or was a trustee, officer, employee, or agent of the business trust, or who, while a trustee, officer, employee, or agent of the business trust, is or was serving at the request of the business trust as a director, officer, partner, trustee, employee, or agent of a foreign or domestic corporation, partnership, joint venture, trust, employee benefit plan, or other enterprise, against liability asserted against or incurred by him in that capacity or arising from his status as a director, officer, employee, or agent, whether or not the business trust would have power to indemnify him against the same liability under this section.","order_by":null,"text":{"0":{"id":266962,"text":"A business trust shall have the power to indemnify and hold harmless any trustee, officer, employee or agent from and against any and all claims and demands to the same extent as a director, officer, employee or agent of a Virginia corporation under Chapter 9 (§ 13.1-601 et seq.) of this title.","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"B"},"1":{"id":266963,"text":"A trustee or officer of a business trust shall be entitled to mandatory indemnification to the same extent as a director or officer of a Virginia corporation under Chapter 9 (§ 13.1-601 et seq.) of this title.","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A","next_prefix":"C"},"2":{"id":266964,"text":"A trustee or officer may apply for court-ordered indemnification in the same manner as a director or officer of a Virginia corporation pursuant to § 13.1-700.1.","type":"section","prefixes":["C"],"prefix":"C","entire_prefix":"C","prefix_anchor":"C","level":1,"prior_prefix":"B","next_prefix":"D"},"3":{"id":266965,"text":"A business trust may purchase and maintain insurance on behalf of an individual who is or was a trustee, officer, employee, or agent of the business trust, or who, while a trustee, officer, employee, or agent of the business trust, is or was serving at the request of the business trust as a director, officer, partner, trustee, employee, or agent of a foreign or domestic corporation, partnership, joint venture, trust, employee benefit plan, or other enterprise, against liability asserted against or incurred by him in that capacity or arising from his status as a director, officer, employee, or agent, whether or not the business trust would have power to indemnify him against the same liability under this section.","type":"section","prefixes":["D"],"prefix":"D","entire_prefix":"D","prefix_anchor":"D","level":1,"prior_prefix":"C"}},"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":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},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/13.1-1230\/","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\/"}],"permalink":{"id":149397,"object_type":"law","relational_id":74257,"identifier":"13.1-1230","token":"13.1\/14\/5\/13.1-1230","url":"\/13.1-1230\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/13.1-1230\/","token":"13.1\/14\/5\/13.1-1230","dublin_core":{"Title":"Indemnification","Type":"Text","Format":"text\/html","Identifier":"\u00a7 13.1-1230","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

A.<\/span> A business trust<\/span> shall have the power to indemnify and hold harmless any trustee<\/span>, officer, employee or agent from and against any and all claims and demands to the same extent as a director, officer, employee or agent of a Virginia corporation under Chapter 9 (§ 13.1-601<\/a> et seq.) of this title. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> A trustee<\/span> or officer of a business trust<\/span> shall be entitled to mandatory indemnification to the same extent as a director or officer of a Virginia corporation under Chapter 9 (§ 13.1-601<\/a> et seq.) of this title. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

C.<\/span> A trustee<\/span> or officer may apply for court<\/span>-ordered indemnification in the same manner as a director or officer of a Virginia corporation pursuant to § 13.1-700.1<\/a>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

D.<\/span> A business trust<\/span> may purchase and maintain insurance on behalf of an individual who is or was a trustee<\/span>, officer, employee, or agent of the business trust<\/span>, or who, while a trustee<\/span>, officer, employee, or agent of the business trust<\/span>, is or was serving at the request of the business trust<\/span> as a director, officer, partner, trustee<\/span>, employee, or agent of a foreign<\/span> or domestic corporation<\/span>, partnership, joint venture, trust, employee benefit plan, or other enterprise, against liability asserted against or incurred by him in that capacity or arising from his status as a director, officer, employee, or agent, whether or not the business trust<\/span> would have power to indemnify him against the same liability under this section. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nINDEMNIFICATION (\u00a7 13.1-1230)\n\nA. A business trust shall have the power to indemnify and hold harmless any\ntrustee, officer, employee or agent from and against any and all claims and\ndemands to the same extent as a director, officer, employee or agent of a\nVirginia corporation under Chapter 9 (§ 13.1-601 et seq.) of this title.\n\nB. A trustee or officer of a business trust shall be entitled to mandatory\nindemnification to the same extent as a director or officer of a Virginia\ncorporation under Chapter 9 (§ 13.1-601 et seq.) of this title.\n\nC. A trustee or officer may apply for court-ordered indemnification in the same\nmanner as a director or officer of a Virginia corporation pursuant to §\n13.1-700.1.\n\nD. A business trust may purchase and maintain insurance on behalf of an\nindividual who is or was a trustee, officer, employee, or agent of the business\ntrust, or who, while a trustee, officer, employee, or agent of the business\ntrust, is or was serving at the request of the business trust as a director,\nofficer, partner, trustee, employee, or agent of a foreign or domestic\ncorporation, partnership, joint venture, trust, employee benefit plan, or other\nenterprise, against liability asserted against or incurred by him in that\ncapacity or arising from his status as a director, officer, employee, or agent,\nwhether or not the business trust would have power to indemnify him against the\nsame liability under this section.\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}}