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<law><site_title>Virginia Decoded</site_title><site_url>https://vacode.org</site_url><law_id>67129</law_id><section_number>13.1-1266</section_number><catch_line>Plan of domestication</catch_line><edition url="https://vacode.org/2025/" slug="2025" current="TRUE" last_updated="">2025</edition><structure><unit label="title" level="1" order_by="1" identifier="13.1">Corporations</unit><unit label="chapter" level="2" order_by="1" identifier="14">Virginia Business Trust Act</unit><unit label="article" level="3" order_by="1" identifier="12">Domestication and Conversion</unit></structure><text>
						<section id="A"><p><span class="prefix-number">A.</span> The plan of <span class="dictionary">domestication</span> shall set forth: <a id="paragraph-243285" class="section-permalink" href="https://vacode.org/13.1-1266/#A"><i class="fa fa-link"/></a></p></section>
						<section id="A1" class="indent-1"><p><span class="prefix-number">1.</span> The name of the state or other <span class="dictionary">jurisdiction</span> under whose <span class="dictionary">laws</span> the <span class="dictionary">domestic business trust</span> or <span class="dictionary">foreign entity</span> is formed, organized, or incorporated; <a id="paragraph-243286" class="section-permalink" href="https://vacode.org/13.1-1266/#A1"><i class="fa fa-link"/></a></p></section>
						<section id="A2" class="indent-1"><p><span class="prefix-number">2.</span> A statement of the <span class="dictionary">jurisdiction</span> in which the <span class="dictionary">domestic business trust</span> or <span class="dictionary">foreign entity</span> is to be domesticated; <a id="paragraph-243287" class="section-permalink" href="https://vacode.org/13.1-1266/#A2"><i class="fa fa-link"/></a></p></section>
						<section id="A3" class="indent-1"><p><span class="prefix-number">3.</span> The terms and conditions of the <span class="dictionary">domestication</span>, provided that such terms and conditions may not alter the ownership proportion or the relative rights, preferences and limitations of the interests of the <span class="dictionary">beneficial owners</span> except to the extent required to conform to the requirements of this chapter; and <a id="paragraph-243288" class="section-permalink" href="https://vacode.org/13.1-1266/#A3"><i class="fa fa-link"/></a></p></section>
						<section id="A4" class="indent-1"><p><span class="prefix-number">4.</span> For a <span class="dictionary">foreign entity</span> that is to become a <span class="dictionary">domestic business trust</span>, as a referenced <span class="dictionary">attachment</span>, the amended and restated <span class="dictionary">articles of trust</span> that comply with &#xA7; <a class="law" title="Articles of trust" href="/13.1-1212/">13.1-1212</a> as they will be in effect upon consummation of the <span class="dictionary">domestication</span>. <a id="paragraph-243289" class="section-permalink" href="https://vacode.org/13.1-1266/#A4"><i class="fa fa-link"/></a></p></section>
						<section id="B"><p><span class="prefix-number">B.</span> The plan of <span class="dictionary">domestication</span> may include any other provision relating to the <span class="dictionary">domestication</span>. <a id="paragraph-243290" class="section-permalink" href="https://vacode.org/13.1-1266/#B"><i class="fa fa-link"/></a></p></section>
						<section id="C"><p><span class="prefix-number">C.</span> The plan of <span class="dictionary">domestication</span> may also include a provision that the management of the <span class="dictionary">converting entity</span> may <span class="dictionary">amend</span> the plan at any time prior to issuance of the certificate of <span class="dictionary">domestication</span> or such other document required by the <span class="dictionary">laws</span> of the other <span class="dictionary">jurisdiction</span> to consummate the <span class="dictionary">domestication</span>. An amendment made subsequent to the submission of the plan to the <span class="dictionary">beneficial owners</span> of the <span class="dictionary">foreign entity</span>, if required, shall not alter or change any of the terms or conditions of the plan if the change would adversely affect the interests of the <span class="dictionary">beneficial owners</span>. <a id="paragraph-243291" class="section-permalink" href="https://vacode.org/13.1-1266/#C"><i class="fa fa-link"/></a></p></section></text><history>2002, c. 621; 2012, c. 130.</history><metadata></metadata></law>
