                                 CODE OF VIRGINIA

SURRENDER OF ARTICLES OF TRUST UPON DOMESTICATION (§ 13.1-1269)

A. Whenever a domestic business trust has adopted and approved, in the manner
required by this article, a plan of domestication providing for the business
trust to be domesticated under the laws of another jurisdiction, the business
trust shall file with the Commission articles of trust surrender setting forth:

   1. The name of the business trust;

   2. The business trust&#8217;s new jurisdiction of formation;

   3. The business trust&#8217;s new entity type, if any;

   4. The plan of domestication;

   5. A statement that the articles of trust surrender are being filed in
   connection with the domestication of the business trust as a foreign entity to
   be formed under the laws of another jurisdiction and that the business trust
   is surrendering its charter under the laws of this Commonwealth;

   6. A statement that the plan was adopted by the business trust in accordance
   with &#xA7; 13.1-1267;

   7. A statement that the domestic business trust revokes the authority of its
   registered agent to accept service on its behalf and appoints the clerk of the
   Commission as its agent for service of process in any proceeding based on a
   cause of action arising during the time it was formed in this Commonwealth;

   8. A mailing address to which the clerk may mail a copy of any process served
   on him under subdivision 7; and

   9. A commitment to notify the clerk of the Commission in the future of any
   change in the mailing address of the business trust.

B. If the Commission finds that the articles of trust surrender comply with the
requirements of law and that all required fees have been paid, it shall issue a
certificate of trust surrender.

C. The business trust shall automatically cease to be a domestic business trust
when the certificate of trust surrender becomes effective.

D. If the former domestic business trust intends to continue to transact
business in the Commonwealth, then, within thirty days after the effective date
of the certificate of trust surrender, it shall deliver to the Commission an
application for a certificate of authority to transact business in the
Commonwealth pursuant to the applicable provisions of the Code of Virginia for
the resulting entity type of the former domestic business trust.

HISTORY: 2002, c. 621.