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<law><site_title>Virginia Decoded</site_title><site_url>https://vacode.org</site_url><law_id>59114</law_id><section_number>13.1-1267</section_number><catch_line>Action on plan of domestication by a domestic business trust</catch_line><edition url="https://vacode.org/2025/" slug="2025" current="TRUE" last_updated="">2025</edition><referred_to_by><reference>13.1-1264</reference><reference>13.1-1269</reference></referred_to_by><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 be approved by the <span class="dictionary">trustees</span> of the <span class="dictionary">domestic business trust</span> in the manner provided in the business trust&#x2019;s <span class="dictionary">governing instrument</span> or <span class="dictionary">articles of trust</span> for amendments or, if no such provision is made in a <span class="dictionary">governing instrument</span> or <span class="dictionary">articles of trust</span>, by the sole <span class="dictionary">trustee</span> or a majority of the <span class="dictionary">trustees</span> of the business trust. <a id="paragraph-216764" class="section-permalink" href="https://vacode.org/13.1-1267/#A"><i class="fa fa-link"/></a></p></section>
						<section id="B"><p><span class="prefix-number">B.</span> The business trust shall notify each <span class="dictionary">trustee</span>, whether or not entitled to vote, and each member of a voting group of the proposed <span class="dictionary">trustees</span>&#x2019; meeting at which the plan of <span class="dictionary">domestication</span> is to be submitted for approval. The notice, which shall be given no less than twenty-five nor more than sixty days before the meeting date, shall state that a purpose of the meeting is to consider the plan of <span class="dictionary">domestication</span> and shall contain or be accompanied by a copy of the plan. <a id="paragraph-216765" class="section-permalink" href="https://vacode.org/13.1-1267/#B"><i class="fa fa-link"/></a></p></section></text><history>2002, c. 621.</history><metadata></metadata></law>
