{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/13.1-1278.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/13.1-1278.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/13.1-1278.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/13.1-1278.html"}],"law_id":82068,"edition_id":1,"section_id":82068,"structure_id":16293,"section_number":"13.1-1278","catch_line":"Trust records","history":"2002, c. 621.","full_text":"A\n\nA 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\n\nA business trust shall maintain appropriate accounting records.C\n\nA business trust or its agent shall maintain a record of its beneficial owners, in a form that permits preparation of a list of the names and addresses of all beneficial owners, in alphabetical order by class and series, if any, of beneficial interests showing the number and class and series, if any, of beneficial interests held by each.D\n\nA business trust shall maintain its records in written form or in another form capable of conversion into written form within a reasonable time.E\n\nA business trust shall keep a copy of the following records:1\n\nIts articles or restated articles of trust and all amendments to them currently in effect;2\n\nIts governing instrument and all amendments to it currently in effect;3\n\nResolutions adopted by its trustees creating one or more classes or series of beneficial interests, and fixing their relative rights, preferences, and limitations, if beneficial interests issued pursuant to those resolutions are outstanding;4\n\nThe minutes of all meetings of beneficial owners, and records of all action taken by beneficial owners without a meeting, for the past three years;5\n\nAll written communications to beneficial owners generally within the past three years; and6\n\nA list of the names and business addresses of its current trustees and officers.","order_by":null,"text":{"0":{"id":294114,"text":"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.","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"B"},"1":{"id":294115,"text":"A business trust shall maintain appropriate accounting records.","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A","next_prefix":"C"},"2":{"id":294116,"text":"A business trust or its agent shall maintain a record of its beneficial owners, in a form that permits preparation of a list of the names and addresses of all beneficial owners, in alphabetical order by class and series, if any, of beneficial interests showing the number and class and series, if any, of beneficial interests held by each.","type":"section","prefixes":["C"],"prefix":"C","entire_prefix":"C","prefix_anchor":"C","level":1,"prior_prefix":"B","next_prefix":"D"},"3":{"id":294117,"text":"A business trust shall maintain its records in written form or in another form capable of conversion into written form within a reasonable time.","type":"section","prefixes":["D"],"prefix":"D","entire_prefix":"D","prefix_anchor":"D","level":1,"prior_prefix":"C","next_prefix":"E"},"4":{"id":294118,"text":"A business trust shall keep a copy of the following records:","type":"section","prefixes":["E"],"prefix":"E","entire_prefix":"E","prefix_anchor":"E","level":1,"prior_prefix":"D","next_prefix":"E1"},"5":{"id":294119,"text":"Its articles or restated articles of trust and all amendments to them currently in effect;","type":"section","prefixes":["E","1"],"prefix":"1","entire_prefix":"E1","prefix_anchor":"E1","level":2,"prior_prefix":"E","next_prefix":"E2"},"6":{"id":294120,"text":"Its governing instrument and all amendments to it currently in effect;","type":"section","prefixes":["E","2"],"prefix":"2","entire_prefix":"E2","prefix_anchor":"E2","level":2,"prior_prefix":"E1","next_prefix":"E3"},"7":{"id":294121,"text":"Resolutions adopted by its trustees creating one or more classes or series of beneficial interests, and fixing their relative rights, preferences, and limitations, if beneficial interests issued pursuant to those resolutions are outstanding;","type":"section","prefixes":["E","3"],"prefix":"3","entire_prefix":"E3","prefix_anchor":"E3","level":2,"prior_prefix":"E2","next_prefix":"E4"},"8":{"id":294122,"text":"The minutes of all meetings of beneficial owners, and records of all action taken by beneficial owners without a meeting, for the past three years;","type":"section","prefixes":["E","4"],"prefix":"4","entire_prefix":"E4","prefix_anchor":"E4","level":2,"prior_prefix":"E3","next_prefix":"E5"},"9":{"id":294123,"text":"All written communications to beneficial owners generally within the past three years; and","type":"section","prefixes":["E","5"],"prefix":"5","entire_prefix":"E5","prefix_anchor":"E5","level":2,"prior_prefix":"E4","next_prefix":"E6"},"10":{"id":294124,"text":"A list of the names and business addresses of its current trustees and officers.","type":"section","prefixes":["E","6"],"prefix":"6","entire_prefix":"E6","prefix_anchor":"E6","level":2,"prior_prefix":"E5"}},"ancestry":[{"id":16293,"edition_id":1,"name":"Reports and Records","identifier":"13","label":"article","depth":3,"order_by":1,"parent_id":12745,"metadata":{},"date_created":"2026-06-26 04:12:53","date_modified":"2026-06-26 04:12:53","permalink":{"id":149269,"object_type":"structure","relational_id":16293,"identifier":"13","token":"13.1\/14\/13","url":"\/13.1\/14\/13\/","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":82068,"structure_id":16293,"section_number":"13.1-1278","catch_line":"Trust records","url":"\/13.1-1278\/","token":"13.1\/14\/13\/13.1-1278","metadata":false},{"id":87283,"structure_id":16293,"section_number":"13.1-1279","catch_line":"Inspection of records by beneficial owners","url":"\/13.1-1279\/","token":"13.1\/14\/13\/13.1-1279","metadata":false},{"id":66296,"structure_id":16293,"section_number":"13.1-1280","catch_line":"Scope of inspection right","url":"\/13.1-1280\/","token":"13.1\/14\/13\/13.1-1280","metadata":false},{"id":86667,"structure_id":16293,"section_number":"13.1-1281","catch_line":"Court-ordered inspection","url":"\/13.1-1281\/","token":"13.1\/14\/13\/13.1-1281","metadata":false}],"next_section":{"id":87283,"structure_id":16293,"section_number":"13.1-1279","catch_line":"Inspection of records by beneficial owners","url":"\/13.1-1279\/","token":"13.1\/14\/13\/13.1-1279","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/13.1-1278\/","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":[{"id":87283,"section_number":"13.1-1279","catch_line":"Inspection of records by beneficial owners","order_by":null,"url":"\/13.1-1279\/"}],"refers_to":false,"permalink":{"id":149271,"object_type":"law","relational_id":82068,"identifier":"13.1-1278","token":"13.1\/14\/13\/13.1-1278","url":"\/13.1-1278\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/13.1-1278\/","token":"13.1\/14\/13\/13.1-1278","dublin_core":{"Title":"Trust records","Type":"Text","Format":"text\/html","Identifier":"\u00a7 13.1-1278","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

A.<\/span> A business trust<\/span> shall keep minutes of all meetings of its beneficial owners<\/span> and trustees<\/span>, a record of all actions taken by the beneficial owners<\/span> or trustees<\/span> without a meeting, and a record of all actions taken by a committee of the trustees<\/span> on behalf of the business trust<\/span>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> A business trust<\/span> shall maintain appropriate accounting records. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

C.<\/span> A business trust<\/span> or its agent shall maintain a record of its beneficial owners<\/span>, in a form that permits preparation of a list of the names and addresses of all beneficial owners<\/span>, in alphabetical order<\/span> by class and series, if any, of beneficial interests showing the number and class and series, if any, of beneficial interests held by each. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

D.<\/span> A business trust<\/span> shall maintain its records in written form or in another form capable of conversion into written form within a reasonable time. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

E.<\/span> A business trust<\/span> shall keep a copy of the following records: <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

1.<\/span> Its articles or restated articles of trust<\/span> and all amendments to them currently in effect; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

2.<\/span> Its governing instrument<\/span> and all amendments to it currently in effect; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

3.<\/span> Resolutions adopted by its trustees<\/span> creating one or more classes or series of beneficial interests, and fixing their relative rights, preferences, and limitations, if beneficial interests issued pursuant to those resolutions are outstanding; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

4.<\/span> The minutes of all meetings of beneficial owners<\/span>, and records of all action taken by beneficial owners<\/span> without a meeting, for the past three years; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

5.<\/span> All written communications to beneficial owners<\/span> generally within the past three years; and <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

6.<\/span> A list of the names and business addresses of its current trustees<\/span> and officers. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nTRUST RECORDS (\u00a7 13.1-1278)\n\nA. A business trust shall keep minutes of all meetings of its beneficial owners\nand trustees, a record of all actions taken by the beneficial owners or trustees\nwithout a meeting, and a record of all actions taken by a committee of the\ntrustees on behalf of the business trust.\n\nB. A business trust shall maintain appropriate accounting records.\n\nC. A business trust or its agent shall maintain a record of its beneficial\nowners, in a form that permits preparation of a list of the names and addresses\nof all beneficial owners, in alphabetical order by class and series, if any, of\nbeneficial interests showing the number and class and series, if any, of\nbeneficial interests held by each.\n\nD. A business trust shall maintain its records in written form or in another\nform capable of conversion into written form within a reasonable time.\n\nE. A business trust shall keep a copy of the following records:\n\n 1. Its articles or restated articles of trust and all amendments to them\n currently in effect;\n\n 2. Its governing instrument and all amendments to it currently in effect;\n\n 3. Resolutions adopted by its trustees creating one or more classes or series\n of beneficial interests, and fixing their relative rights, preferences, and\n limitations, if beneficial interests issued pursuant to those resolutions are\n outstanding;\n\n 4. The minutes of all meetings of beneficial owners, and records of all action\n taken by beneficial owners without a meeting, for the past three years;\n\n 5. All written communications to beneficial owners generally within the past\n three years; and\n\n 6. A list of the names and business addresses of its current trustees and\n officers.\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}}