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<law><site_title>Virginia Decoded</site_title><site_url>https://vacode.org</site_url><law_id>82068</law_id><section_number>13.1-1278</section_number><catch_line>Trust records</catch_line><edition url="https://vacode.org/2025/" slug="2025" current="TRUE" last_updated="">2025</edition><referred_to_by><reference>13.1-1279</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="13">Reports and Records</unit></structure><text>
						<section id="A"><p><span class="prefix-number">A.</span> A <span class="dictionary">business trust</span> shall keep minutes of all meetings of its <span class="dictionary">beneficial owners</span> and <span class="dictionary">trustees</span>, a record of all actions taken by the <span class="dictionary">beneficial owners</span> or <span class="dictionary">trustees</span> without a meeting, and a record of all actions taken by a committee of the <span class="dictionary">trustees</span> on behalf of the <span class="dictionary">business trust</span>. <a id="paragraph-294114" class="section-permalink" href="https://vacode.org/13.1-1278/#A"><i class="fa fa-link"/></a></p></section>
						<section id="B"><p><span class="prefix-number">B.</span> A <span class="dictionary">business trust</span> shall maintain appropriate accounting records. <a id="paragraph-294115" class="section-permalink" href="https://vacode.org/13.1-1278/#B"><i class="fa fa-link"/></a></p></section>
						<section id="C"><p><span class="prefix-number">C.</span> A <span class="dictionary">business trust</span> or its agent shall maintain a record of its <span class="dictionary">beneficial owners</span>, in a form that permits preparation of a list of the names and addresses of all <span class="dictionary">beneficial owners</span>, in alphabetical <span class="dictionary">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. <a id="paragraph-294116" class="section-permalink" href="https://vacode.org/13.1-1278/#C"><i class="fa fa-link"/></a></p></section>
						<section id="D"><p><span class="prefix-number">D.</span> A <span class="dictionary">business trust</span> shall maintain its records in written form or in another form capable of conversion into written form within a reasonable time. <a id="paragraph-294117" class="section-permalink" href="https://vacode.org/13.1-1278/#D"><i class="fa fa-link"/></a></p></section>
						<section id="E"><p><span class="prefix-number">E.</span> A <span class="dictionary">business trust</span> shall keep a copy of the following records: <a id="paragraph-294118" class="section-permalink" href="https://vacode.org/13.1-1278/#E"><i class="fa fa-link"/></a></p></section>
						<section id="E1" class="indent-1"><p><span class="prefix-number">1.</span> Its articles or restated <span class="dictionary">articles of trust</span> and all amendments to them currently in effect; <a id="paragraph-294119" class="section-permalink" href="https://vacode.org/13.1-1278/#E1"><i class="fa fa-link"/></a></p></section>
						<section id="E2" class="indent-1"><p><span class="prefix-number">2.</span> Its <span class="dictionary">governing instrument</span> and all amendments to it currently in effect; <a id="paragraph-294120" class="section-permalink" href="https://vacode.org/13.1-1278/#E2"><i class="fa fa-link"/></a></p></section>
						<section id="E3" class="indent-1"><p><span class="prefix-number">3.</span> Resolutions adopted by its <span class="dictionary">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; <a id="paragraph-294121" class="section-permalink" href="https://vacode.org/13.1-1278/#E3"><i class="fa fa-link"/></a></p></section>
						<section id="E4" class="indent-1"><p><span class="prefix-number">4.</span> The minutes of all meetings of <span class="dictionary">beneficial owners</span>, and records of all action taken by <span class="dictionary">beneficial owners</span> without a meeting, for the past three years; <a id="paragraph-294122" class="section-permalink" href="https://vacode.org/13.1-1278/#E4"><i class="fa fa-link"/></a></p></section>
						<section id="E5" class="indent-1"><p><span class="prefix-number">5.</span> All written communications to <span class="dictionary">beneficial owners</span> generally within the past three years; and <a id="paragraph-294123" class="section-permalink" href="https://vacode.org/13.1-1278/#E5"><i class="fa fa-link"/></a></p></section>
						<section id="E6" class="indent-1"><p><span class="prefix-number">6.</span> A list of the names and business addresses of its current <span class="dictionary">trustees</span> and officers. <a id="paragraph-294124" class="section-permalink" href="https://vacode.org/13.1-1278/#E6"><i class="fa fa-link"/></a></p></section></text><history>2002, c. 621.</history><metadata></metadata></law>
