                                 CODE OF VIRGINIA

REINSTATEMENT OF A BUSINESS TRUST THAT HAS CEASED TO EXIST (§ 13.1-1239)

A. A business trust that has ceased to exist may apply to the Commission for
reinstatement within five years thereafter, unless the cancellation was by order
of the Commission (i) entered pursuant to subdivision A 1 of &#xA7; 13.1-1238.2
or (ii) entered pursuant to &#xA7; 13.1-1235 and the circuit court&#8217;s
decree directing dissolution contains no provision for reinstatement of the
existence of the business trust.

B. To have its existence reinstated, a business trust shall provide the
Commission with the following:

   1. An application for reinstatement, which may be in the form of a letter,
   that includes the identification number issued by the Commission to the
   business trust;

   2. A reinstatement fee of $100;

   3. All annual registration fees and penalties that were due before the
   business trust ceased to exist and that would have been assessed or imposed to
   the date of reinstatement if the business trust&#8217;s existence had not been
   canceled;

   4. If the name of the business trust does not comply with the provisions of
   &#xA7; 13.1-1214 at the time of reinstatement, articles of amendment to the
   articles of trust to change the business trust&#8217;s name to a name that
   satisfies the provisions of &#xA7; 13.1-1214, with the fee required by this
   chapter for the filing of articles of amendment; and

   5. If the business trust&#8217;s registered agent has filed a statement of
   resignation and a new registered agent has not been appointed, a statement of
   change pursuant to &#xA7; 13.1-1221.

C. If the business trust complies with the provisions of this section, the
Commission shall enter an order of reinstatement of existence. Upon entry of the
order, the existence of the business trust shall be deemed to have continued
from the date of the cancellation as if the cancellation had never occurred, and
any liability incurred by the business trust or a beneficial owner, trustee or
other agent after the cancellation and before the reinstatement is determined as
if cancellation of the business trust&#8217;s existence had never occurred.

HISTORY: 2002, c. 621; 2004, c. 601; 2008, c. 101; 2013, c. 25.