{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/64.2-1042.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/64.2-1042.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/64.2-1042.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/64.2-1042.html"}],"law_id":72707,"edition_id":1,"section_id":72707,"structure_id":15312,"section_number":"64.2-1042","catch_line":"Notice","history":"2022, c. 354.","full_text":"A\n\nA notice required by subdivision B 2 of \u00a7 64.2-1041 shall be sent in a manner authorized under \u00a7 64.2-707 to:1\n\nThe qualified beneficiaries determined under § 64.2-701, other than the Attorney General;2\n\nEach person acting as trust director of the trust under the Uniform Directed Trust Act (§ 64.2-779.26 et seq.); and3\n\nEach person that is granted a power by the terms of the trust to appoint or remove a trustee or person described in subdivision 2, to the extent the power is exercisable when the person that exercises the power is not then serving as a trustee or person described in subdivision 2.B\n\nThe representation provisions of Article 3 (§ 64.2-714 et seq.) of Chapter 7 apply to notice under this section.C\n\nA person may consent in a record at any time to action proposed under subdivision B 2 of § 64.2-1041. A notice required by subdivision B 2 of § 64.2-1041 need not be sent to a person that consents under this subsection.D\n\nA notice required by subdivision B 2 of \u00a7 64.2-1041 shall include:1\n\nThe action proposed under subdivision B 2 of § 64.2-1041;2\n\nFor a conversion of an income trust to a unitrust, a copy of the unitrust policy adopted under subdivision A 1 of § 64.2-1041;3\n\nFor a change in the percentage or method used to calculate the unitrust amount, a copy of the unitrust policy or amendment or replacement of the unitrust policy adopted under subdivision A 2 of § 64.2-1041;4\n\nA statement that the person to which the notice is sent may object to the proposed action by stating in a record the basis for the objection and sending or delivering the record to the fiduciary;5\n\nThe date by which an objection under subdivision 4 must be received by the fiduciary, which must be at least 30 days after the date the notice is sent;6\n\nThe date on which the action is proposed to be taken and the date on which the action is proposed to take effect;7\n\nThe name and contact information of the fiduciary; and8\n\nThe name and contact information of a person that may be contacted for additional information.","order_by":null,"text":{"0":{"id":261697,"text":"A notice required by subdivision B 2 of \u00a7 64.2-1041 shall be sent in a manner authorized under \u00a7 64.2-707 to:","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"A1"},"1":{"id":261698,"text":"The qualified beneficiaries determined under § 64.2-701, other than the Attorney General;","type":"section","prefixes":["A","1"],"prefix":"1","entire_prefix":"A1","prefix_anchor":"A1","level":2,"prior_prefix":"A","next_prefix":"A2"},"2":{"id":261699,"text":"Each person acting as trust director of the trust under the Uniform Directed Trust Act (§ 64.2-779.26 et seq.); and","type":"section","prefixes":["A","2"],"prefix":"2","entire_prefix":"A2","prefix_anchor":"A2","level":2,"prior_prefix":"A1","next_prefix":"A3"},"3":{"id":261700,"text":"Each person that is granted a power by the terms of the trust to appoint or remove a trustee or person described in subdivision 2, to the extent the power is exercisable when the person that exercises the power is not then serving as a trustee or person described in subdivision 2.","type":"section","prefixes":["A","3"],"prefix":"3","entire_prefix":"A3","prefix_anchor":"A3","level":2,"prior_prefix":"A2","next_prefix":"B"},"4":{"id":261701,"text":"The representation provisions of Article 3 (§ 64.2-714 et seq.) of Chapter 7 apply to notice under this section.","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A3","next_prefix":"C"},"5":{"id":261702,"text":"A person may consent in a record at any time to action proposed under subdivision B 2 of § 64.2-1041. A notice required by subdivision B 2 of § 64.2-1041 need not be sent to a person that consents under this subsection.","type":"section","prefixes":["C"],"prefix":"C","entire_prefix":"C","prefix_anchor":"C","level":1,"prior_prefix":"B","next_prefix":"D"},"6":{"id":261703,"text":"A notice required by subdivision B 2 of \u00a7 64.2-1041 shall include:","type":"section","prefixes":["D"],"prefix":"D","entire_prefix":"D","prefix_anchor":"D","level":1,"prior_prefix":"C","next_prefix":"D1"},"7":{"id":261704,"text":"The action proposed under subdivision B 2 of § 64.2-1041;","type":"section","prefixes":["D","1"],"prefix":"1","entire_prefix":"D1","prefix_anchor":"D1","level":2,"prior_prefix":"D","next_prefix":"D2"},"8":{"id":261705,"text":"For a conversion of an income trust to a unitrust, a copy of the unitrust policy adopted under subdivision A 1 of § 64.2-1041;","type":"section","prefixes":["D","2"],"prefix":"2","entire_prefix":"D2","prefix_anchor":"D2","level":2,"prior_prefix":"D1","next_prefix":"D3"},"9":{"id":261706,"text":"For a change in the percentage or method used to calculate the unitrust amount, a copy of the unitrust policy or amendment or replacement of the unitrust policy adopted under subdivision A 2 of § 64.2-1041;","type":"section","prefixes":["D","3"],"prefix":"3","entire_prefix":"D3","prefix_anchor":"D3","level":2,"prior_prefix":"D2","next_prefix":"D4"},"10":{"id":261707,"text":"A statement that the person to which the notice is sent may object to the proposed action by stating in a record the basis for the objection and sending or delivering the record to the fiduciary;","type":"section","prefixes":["D","4"],"prefix":"4","entire_prefix":"D4","prefix_anchor":"D4","level":2,"prior_prefix":"D3","next_prefix":"D5"},"11":{"id":261708,"text":"The date by which an objection under subdivision 4 must be received by the fiduciary, which must be at least 30 days after the date the notice is sent;","type":"section","prefixes":["D","5"],"prefix":"5","entire_prefix":"D5","prefix_anchor":"D5","level":2,"prior_prefix":"D4","next_prefix":"D6"},"12":{"id":261709,"text":"The date on which the action is proposed to be taken and the date on which the action is proposed to take effect;","type":"section","prefixes":["D","6"],"prefix":"6","entire_prefix":"D6","prefix_anchor":"D6","level":2,"prior_prefix":"D5","next_prefix":"D7"},"13":{"id":261710,"text":"The name and contact information of the fiduciary; and","type":"section","prefixes":["D","7"],"prefix":"7","entire_prefix":"D7","prefix_anchor":"D7","level":2,"prior_prefix":"D6","next_prefix":"D8"},"14":{"id":261711,"text":"The name and contact information of a person that may be contacted for additional information.","type":"section","prefixes":["D","8"],"prefix":"8","entire_prefix":"D8","prefix_anchor":"D8","level":2,"prior_prefix":"D7"}},"ancestry":[{"id":15312,"edition_id":1,"name":"Unitrust","identifier":"3","label":"article","depth":4,"order_by":1,"parent_id":13478,"metadata":{},"date_created":"2026-06-26 03:53:52","date_modified":"2026-06-26 03:53:52","permalink":{"id":273907,"object_type":"structure","relational_id":15312,"identifier":"3","token":"64.2\/III\/10.1\/3","url":"\/64.2\/III\/10.1\/3\/","edition_id":1,"permalink":0,"preferred":1}},{"id":13478,"edition_id":1,"name":"Uniform Fiduciary Income And Principal Act","identifier":"10.1","label":"chapter","depth":3,"order_by":1,"parent_id":12724,"metadata":{},"date_created":"2026-06-26 03:44:58","date_modified":"2026-06-26 03:44:58","permalink":{"id":273863,"object_type":"structure","relational_id":13478,"identifier":"10.1","token":"64.2\/III\/10.1","url":"\/64.2\/III\/10.1\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12724,"edition_id":1,"name":"Trusts","identifier":"III","label":"subtitle","depth":2,"order_by":1,"parent_id":12723,"metadata":{},"date_created":"2026-06-26 03:43:50","date_modified":"2026-06-26 03:43:50","permalink":{"id":273811,"object_type":"structure","relational_id":12724,"identifier":"III","token":"64.2\/III","url":"\/64.2\/III\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12723,"edition_id":1,"name":"Wills, Trusts, and Fiduciaries","identifier":"64.2","label":"title","depth":1,"order_by":1,"parent_id":null,"metadata":{},"date_created":"2026-06-26 03:43:50","date_modified":"2026-06-26 03:43:50","permalink":{"id":272781,"object_type":"structure","relational_id":12723,"identifier":"64.2","token":"64.2","url":"\/64.2\/","edition_id":1,"permalink":0,"preferred":1}}],"structure_contents":[{"id":58297,"structure_id":15312,"section_number":"64.2-1039","catch_line":"Definitions","url":"\/64.2-1039\/","token":"64.2\/III\/10.1\/3\/64.2-1039","metadata":false},{"id":63403,"structure_id":15312,"section_number":"64.2-1040","catch_line":"Application; duties and remedies","url":"\/64.2-1040\/","token":"64.2\/III\/10.1\/3\/64.2-1040","metadata":false},{"id":74484,"structure_id":15312,"section_number":"64.2-1041","catch_line":"Authority of fiduciary","url":"\/64.2-1041\/","token":"64.2\/III\/10.1\/3\/64.2-1041","metadata":false},{"id":72707,"structure_id":15312,"section_number":"64.2-1042","catch_line":"Notice","url":"\/64.2-1042\/","token":"64.2\/III\/10.1\/3\/64.2-1042","metadata":false},{"id":76075,"structure_id":15312,"section_number":"64.2-1043","catch_line":"Unitrust policy","url":"\/64.2-1043\/","token":"64.2\/III\/10.1\/3\/64.2-1043","metadata":false},{"id":67457,"structure_id":15312,"section_number":"64.2-1044","catch_line":"Unitrust rate","url":"\/64.2-1044\/","token":"64.2\/III\/10.1\/3\/64.2-1044","metadata":false},{"id":72430,"structure_id":15312,"section_number":"64.2-1045","catch_line":"Applicable value","url":"\/64.2-1045\/","token":"64.2\/III\/10.1\/3\/64.2-1045","metadata":false},{"id":66259,"structure_id":15312,"section_number":"64.2-1046","catch_line":"Period","url":"\/64.2-1046\/","token":"64.2\/III\/10.1\/3\/64.2-1046","metadata":false},{"id":81750,"structure_id":15312,"section_number":"64.2-1047","catch_line":"Special tax benefits; other rules","url":"\/64.2-1047\/","token":"64.2\/III\/10.1\/3\/64.2-1047","metadata":false}],"previous_section":{"id":74484,"structure_id":15312,"section_number":"64.2-1041","catch_line":"Authority of fiduciary","url":"\/64.2-1041\/","token":"64.2\/III\/10.1\/3\/64.2-1041","metadata":false},"next_section":{"id":76075,"structure_id":15312,"section_number":"64.2-1043","catch_line":"Unitrust policy","url":"\/64.2-1043\/","token":"64.2\/III\/10.1\/3\/64.2-1043","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/64.2-1042\/","history_text":"

This law was first created in 2022. The record of its establishment is cataloged in chapter 354<\/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":74484,"section_number":"64.2-1041","catch_line":"Authority of fiduciary","order_by":null,"url":"\/64.2-1041\/"}],"refers_to":[{"id":74484,"section_number":"64.2-1041","catch_line":"Authority of fiduciary","order_by":null,"url":"\/64.2-1041\/"},{"id":80693,"section_number":"64.2-701","catch_line":"Definitions","order_by":null,"url":"\/64.2-701\/"},{"id":56469,"section_number":"64.2-707","catch_line":"Methods and waiver of notice","order_by":null,"url":"\/64.2-707\/"},{"id":87339,"section_number":"64.2-714","catch_line":"Representation; basic effect","order_by":null,"url":"\/64.2-714\/"},{"id":70126,"section_number":"64.2-779.26","catch_line":"Definitions","order_by":null,"url":"\/64.2-779.26\/"}],"permalink":{"id":273921,"object_type":"law","relational_id":72707,"identifier":"64.2-1042","token":"64.2\/III\/10.1\/3\/64.2-1042","url":"\/64.2-1042\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/64.2-1042\/","token":"64.2\/III\/10.1\/3\/64.2-1042","dublin_core":{"Title":"Notice","Type":"Text","Format":"text\/html","Identifier":"\u00a7 64.2-1042","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

A.<\/span> A notice required by subdivision B 2 of \u00a7 64.2-1041<\/a> shall be sent in a manner authorized under \u00a7 64.2-707<\/a> to: <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

1.<\/span> The qualified beneficiaries determined under § 64.2-701<\/a>, other than the Attorney General<\/span>; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

2.<\/span> Each person<\/span> acting as trust<\/span> director of the trust<\/span> under the Uniform Directed Trust<\/span> Act (§ 64.2-779.26<\/a> et seq.); and <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

3.<\/span> Each person<\/span> that is granted a power by the terms of the trust<\/span> to appoint or remove a trustee<\/span> or person<\/span> described in subdivision 2, to the extent the power is exercisable when the person<\/span> that exercises the power is not then serving as a trustee<\/span> or person<\/span> described in subdivision 2. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> The representation provisions of Article 3 (§ 64.2-714<\/a> et seq.) of Chapter 7 apply to notice under this section. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

C.<\/span> A person<\/span> may consent in a record<\/span> at any time to action proposed under subdivision B 2 of § 64.2-1041<\/a>. A notice required by subdivision B 2 of § 64.2-1041<\/a> need not be sent to a person<\/span> that consents under this subsection. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

D.<\/span> A notice required by subdivision B 2 of \u00a7 64.2-1041<\/a> shall include: <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

1.<\/span> The action proposed under subdivision B 2 of § 64.2-1041<\/a>; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

2.<\/span> For a conversion of an income trust<\/span> to a unitrust, a copy of the unitrust policy<\/span> adopted under subdivision A 1 of § 64.2-1041<\/a>; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

3.<\/span> For a change in the percentage or method used to calculate the unitrust amount<\/span>, a copy of the unitrust policy<\/span> or amendment or replacement of the unitrust policy<\/span> adopted under subdivision A 2 of § 64.2-1041<\/a>; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

4.<\/span> A statement that the person<\/span> to which the notice is sent may object<\/span> to the proposed action by stating in a record<\/span> the basis for the objection and sending or delivering the record<\/span> to the fiduciary<\/span>; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

5.<\/span> The date by which an objection under subdivision 4 must be received by the fiduciary<\/span>, which must be at least 30 days after the date the notice is sent; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

6.<\/span> The date on which the action is proposed to be taken and the date on which the action is proposed to take effect; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

7.<\/span> The name and contact information of the fiduciary<\/span>; and <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

8.<\/span> The name and contact information of a person<\/span> that may be contacted for additional information. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nNOTICE (\u00a7 64.2-1042)\n\nA. A notice required by subdivision B 2 of \u00a7 64.2-1041 shall be sent in a\nmanner authorized under \u00a7 64.2-707 to:\n\n 1. The qualified beneficiaries determined under § 64.2-701, other than\n the Attorney General;\n\n 2. Each person acting as trust director of the trust under the Uniform\n Directed Trust Act (§ 64.2-779.26 et seq.); and\n\n 3. Each person that is granted a power by the terms of the trust to appoint or\n remove a trustee or person described in subdivision 2, to the extent the power\n is exercisable when the person that exercises the power is not then serving as\n a trustee or person described in subdivision 2.\n\nB. The representation provisions of Article 3 (§ 64.2-714 et seq.) of\nChapter 7 apply to notice under this section.\n\nC. A person may consent in a record at any time to action proposed under\nsubdivision B 2 of § 64.2-1041. A notice required by subdivision B 2 of\n§ 64.2-1041 need not be sent to a person that consents under this\nsubsection.\n\nD. A notice required by subdivision B 2 of \u00a7 64.2-1041 shall include:\n\n 1. The action proposed under subdivision B 2 of § 64.2-1041;\n\n 2. For a conversion of an income trust to a unitrust, a copy of the unitrust\n policy adopted under subdivision A 1 of § 64.2-1041;\n\n 3. For a change in the percentage or method used to calculate the unitrust\n amount, a copy of the unitrust policy or amendment or replacement of the\n unitrust policy adopted under subdivision A 2 of § 64.2-1041;\n\n 4. A statement that the person to which the notice is sent may object to the\n proposed action by stating in a record the basis for the objection and sending\n or delivering the record to the fiduciary;\n\n 5. The date by which an objection under subdivision 4 must be received by the\n fiduciary, which must be at least 30 days after the date the notice is sent;\n\n 6. The date on which the action is proposed to be taken and the date on which\n the action is proposed to take effect;\n\n 7. The name and contact information of the fiduciary; and\n\n 8. The name and contact information of a person that may be contacted for\n additional information.\n\nHISTORY: 2022, c. 354.","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}}