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<law><site_title>Virginia Decoded</site_title><site_url>https://vacode.org</site_url><law_id>85487</law_id><section_number>64.2-702</section_number><catch_line>Knowledge</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="64.2">Wills, Trusts, and Fiduciaries</unit><unit label="subtitle" level="2" order_by="1" identifier="III">Trusts</unit><unit label="chapter" level="3" order_by="1" identifier="7">Uniform Trust Code</unit><unit label="article" level="4" order_by="1" identifier="1">General Provisions and Definitions</unit></structure><text>
						<section id="A"><p><span class="prefix-number">A.</span> Subject to subsection B, a <span class="dictionary">person</span> has knowledge of a <span class="dictionary">fact</span> if the <span class="dictionary">person</span>: <a id="paragraph-306251" class="section-permalink" href="https://vacode.org/64.2-702/#A"><i class="fa fa-link"/></a></p></section>
						<section id="A1" class="indent-1"><p><span class="prefix-number">1.</span> Has actual knowledge of it; <a id="paragraph-306252" class="section-permalink" href="https://vacode.org/64.2-702/#A1"><i class="fa fa-link"/></a></p></section>
						<section id="A2" class="indent-1"><p><span class="prefix-number">2.</span> Has received a notice or notification of it; or <a id="paragraph-306253" class="section-permalink" href="https://vacode.org/64.2-702/#A2"><i class="fa fa-link"/></a></p></section>
						<section id="A3" class="indent-1"><p><span class="prefix-number">3.</span> From all the <span class="dictionary">facts</span> and circumstances known to the <span class="dictionary">person</span> at the time in question, has reason to know it. <a id="paragraph-306254" class="section-permalink" href="https://vacode.org/64.2-702/#A3"><i class="fa fa-link"/></a></p></section>
						<section id="B"><p><span class="prefix-number">B.</span> An organization that conducts activities through employees has notice or knowledge of a <span class="dictionary">fact</span> involving a trust only from the time the information was received by an employee having responsibility to act for the trust, or would have been brought to the employee&#x2019;s attention if the organization had exercised reasonable diligence. An organization exercises reasonable diligence if it maintains reasonable routines for communicating significant information to the employee having responsibility to act for the trust and there is reasonable compliance with the routines. Reasonable diligence does not require an employee of the organization to communicate information unless the communication is part of the individual&#x2019;s regular duties or the individual knows a matter involving the trust would be materially affected by the information. <a id="paragraph-306255" class="section-permalink" href="https://vacode.org/64.2-702/#B"><i class="fa fa-link"/></a></p></section></text><history>2005, c. 935, &#xA7; 55-541.04; 2012, c. 614.</history><metadata></metadata></law>
