                                 CODE OF VIRGINIA

PENALTY FOR FAILURE TO TIMELY PAY ANNUAL REGISTRATION FEES OR FILE STATEMENT OF
CHANGE (§ 13.1-1254)

A. Any domestic or any foreign business trust that fails to pay the annual
registration fee into the state treasury within the time prescribed in &#xA7;
13.1-1252 shall incur a penalty of $25, which shall be added to the amount of
the annual registration fee due. The penalty prescribed herein shall be in
addition to any other penalty or liability imposed by law.

B. The Commission shall mail to each domestic and foreign business trust that
fails to pay its annual registration fee within the time prescribed in &#xA7;
13.1-1252 a notice of assessment of the penalty imposed herein and of the
impending cancellation of its existence or certificate of registration, as the
case may be.

HISTORY: 2002, c. 621; 2003, c. 373; 2004, cc. 274, 601; 2008, c. 101.