                                 CODE OF VIRGINIA

INDEMNIFICATION (§ 13.1-1230)

A. A business trust shall have the power to indemnify and hold harmless any
trustee, officer, employee or agent from and against any and all claims and
demands to the same extent as a director, officer, employee or agent of a
Virginia corporation under Chapter 9 (&#xA7; 13.1-601 et seq.) of this title.

B. A trustee or officer of a business trust shall be entitled to mandatory
indemnification to the same extent as a director or officer of a Virginia
corporation under Chapter 9 (&#xA7; 13.1-601 et seq.) of this title.

C. A trustee or officer may apply for court-ordered indemnification in the same
manner as a director or officer of a Virginia corporation pursuant to &#xA7;
13.1-700.1.

D. A business trust may purchase and maintain insurance on behalf of an
individual who is or was a trustee, officer, employee, or agent of the business
trust, or who, while a trustee, officer, employee, or agent of the business
trust, is or was serving at the request of the business trust as a director,
officer, partner, trustee, employee, or agent of a foreign or domestic
corporation, partnership, joint venture, trust, employee benefit plan, or other
enterprise, against liability asserted against or incurred by him in that
capacity or arising from his status as a director, officer, employee, or agent,
whether or not the business trust would have power to indemnify him against the
same liability under this section.

HISTORY: 2002, c. 621.