{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/13.1-1234.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/13.1-1234.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/13.1-1234.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/13.1-1234.html"}],"law_id":70888,"edition_id":1,"section_id":70888,"structure_id":15125,"section_number":"13.1-1234","catch_line":"Dissolution generally","history":"2002, c. 621; 2008, cc. 101, 588, 770; 2009, c. 167.","full_text":"A business trust organized under this chapter is dissolved and its affairs shall be wound up upon the happening of the first to occur of the following events:\n\n1\n\nAt the time or on the happening of any events specified in writing in the articles of trust or a governing instrument;2\n\nUpon the unanimous written consent of the beneficial owners;3\n\nThe entry of a decree of judicial dissolution under § 13.1-1235;4\n\nAutomatic cancellation of its existence pursuant to § 13.1-1238.1; or5\n\nInvoluntary cancellation of its existence pursuant to § 13.1-1238.2.","order_by":null,"text":{"0":{"id":255615,"text":"A business trust organized under this chapter is dissolved and its affairs shall be wound up upon the happening of the first to occur of the following events:","type":"section","prefixes":[""],"prefix":"","entire_prefix":"","prefix_anchor":"","level":1,"next_prefix":"1"},"1":{"id":255616,"text":"At the time or on the happening of any events specified in writing in the articles of trust or a governing instrument;","type":"section","prefixes":["1"],"prefix":"1","entire_prefix":"1","prefix_anchor":"1","level":1,"prior_prefix":"","next_prefix":"2"},"2":{"id":255617,"text":"Upon the unanimous written consent of the beneficial owners;","type":"section","prefixes":["2"],"prefix":"2","entire_prefix":"2","prefix_anchor":"2","level":1,"prior_prefix":"1","next_prefix":"3"},"3":{"id":255618,"text":"The entry of a decree of judicial dissolution under § 13.1-1235;","type":"section","prefixes":["3"],"prefix":"3","entire_prefix":"3","prefix_anchor":"3","level":1,"prior_prefix":"2","next_prefix":"4"},"4":{"id":255619,"text":"Automatic cancellation of its existence pursuant to § 13.1-1238.1; or","type":"section","prefixes":["4"],"prefix":"4","entire_prefix":"4","prefix_anchor":"4","level":1,"prior_prefix":"3","next_prefix":"5"},"5":{"id":255620,"text":"Involuntary cancellation of its existence pursuant to § 13.1-1238.2.","type":"section","prefixes":["5"],"prefix":"5","entire_prefix":"5","prefix_anchor":"5","level":1,"prior_prefix":"4"}},"ancestry":[{"id":15125,"edition_id":1,"name":"Dissolution","identifier":"8","label":"article","depth":3,"order_by":1,"parent_id":12745,"metadata":{},"date_created":"2026-06-26 03:52:18","date_modified":"2026-06-26 03:52:18","permalink":{"id":149417,"object_type":"structure","relational_id":15125,"identifier":"8","token":"13.1\/14\/8","url":"\/13.1\/14\/8\/","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":70888,"structure_id":15125,"section_number":"13.1-1234","catch_line":"Dissolution generally","url":"\/13.1-1234\/","token":"13.1\/14\/8\/13.1-1234","metadata":false},{"id":76577,"structure_id":15125,"section_number":"13.1-1235","catch_line":"Judicial dissolution","url":"\/13.1-1235\/","token":"13.1\/14\/8\/13.1-1235","metadata":false},{"id":71409,"structure_id":15125,"section_number":"13.1-1236","catch_line":"Winding up","url":"\/13.1-1236\/","token":"13.1\/14\/8\/13.1-1236","metadata":false},{"id":78638,"structure_id":15125,"section_number":"13.1-1237","catch_line":"Distribution of assets upon dissolution","url":"\/13.1-1237\/","token":"13.1\/14\/8\/13.1-1237","metadata":false},{"id":57615,"structure_id":15125,"section_number":"13.1-1238","catch_line":"Articles of cancellation","url":"\/13.1-1238\/","token":"13.1\/14\/8\/13.1-1238","metadata":false},{"id":60423,"structure_id":15125,"section_number":"13.1-1238.1","catch_line":"Automatic cancellation of business trust existence","url":"\/13.1-1238.1\/","token":"13.1\/14\/8\/13.1-1238.1","metadata":false},{"id":85409,"structure_id":15125,"section_number":"13.1-1238.2","catch_line":"Involuntary cancellation of business trust existence","url":"\/13.1-1238.2\/","token":"13.1\/14\/8\/13.1-1238.2","metadata":false},{"id":82140,"structure_id":15125,"section_number":"13.1-1239","catch_line":"Reinstatement of a business trust that has ceased to exist","url":"\/13.1-1239\/","token":"13.1\/14\/8\/13.1-1239","metadata":false},{"id":82921,"structure_id":15125,"section_number":"13.1-1240","catch_line":"Dissolution of series","url":"\/13.1-1240\/","token":"13.1\/14\/8\/13.1-1240","metadata":false}],"next_section":{"id":76577,"structure_id":15125,"section_number":"13.1-1235","catch_line":"Judicial dissolution","url":"\/13.1-1235\/","token":"13.1\/14\/8\/13.1-1235","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/13.1-1234\/","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 2 times. 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. Those modifications are as follows: in 2008, chapters 101<\/a>, 588<\/a>, and 770<\/a>; in 2009, chapter 167<\/a>.<\/p>","references":[{"id":81602,"section_number":"13.1-1218","catch_line":"Existence","order_by":null,"url":"\/13.1-1218\/"}],"refers_to":[{"id":76577,"section_number":"13.1-1235","catch_line":"Judicial dissolution","order_by":null,"url":"\/13.1-1235\/"},{"id":60423,"section_number":"13.1-1238.1","catch_line":"Automatic cancellation of business trust existence","order_by":null,"url":"\/13.1-1238.1\/"},{"id":85409,"section_number":"13.1-1238.2","catch_line":"Involuntary cancellation of business trust existence","order_by":null,"url":"\/13.1-1238.2\/"}],"permalink":{"id":149419,"object_type":"law","relational_id":70888,"identifier":"13.1-1234","token":"13.1\/14\/8\/13.1-1234","url":"\/13.1-1234\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/13.1-1234\/","token":"13.1\/14\/8\/13.1-1234","dublin_core":{"Title":"Dissolution generally","Type":"Text","Format":"text\/html","Identifier":"\u00a7 13.1-1234","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

A business trust<\/span> organized under this chapter is dissolved and its affairs shall be wound up upon the happening of the first to occur of the following events:<\/p><\/section>\n\t\t\t\t\t\t

1.<\/span> At the time or on the happening of any events specified in writing in the articles of trust<\/span> or a governing instrument<\/span>; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

2.<\/span> Upon the unanimous written consent of the beneficial owners<\/span>; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

3.<\/span> The entry of a decree<\/span> of judicial dissolution under § 13.1-1235<\/a>; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

4.<\/span> Automatic cancellation of its existence pursuant to § 13.1-1238.1<\/a>; or <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

5.<\/span> Involuntary cancellation of its existence pursuant to § 13.1-1238.2<\/a>. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nDISSOLUTION GENERALLY (\u00a7 13.1-1234)\n\nA business trust organized under this chapter is dissolved and its affairs shall\nbe wound up upon the happening of the first to occur of the following events:\n\n1. At the time or on the happening of any events specified in writing in the\narticles of trust or a governing instrument;\n\n2. Upon the unanimous written consent of the beneficial owners;\n\n3. The entry of a decree of judicial dissolution under § 13.1-1235;\n\n4. Automatic cancellation of its existence pursuant to § 13.1-1238.1; or\n\n5. Involuntary cancellation of its existence pursuant to § 13.1-1238.2.\n\nHISTORY: 2002, c. 621; 2008, cc. 101, 588, 770; 2009, c. 167.","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}}