                                 CODE OF VIRGINIA

TRUST RECORDS (§ 13.1-1278)

A. A business trust shall keep minutes of all meetings of its beneficial owners
and trustees, a record of all actions taken by the beneficial owners or trustees
without a meeting, and a record of all actions taken by a committee of the
trustees on behalf of the business trust.

B. A business trust shall maintain appropriate accounting records.

C. A business trust or its agent shall maintain a record of its beneficial
owners, in a form that permits preparation of a list of the names and addresses
of all beneficial owners, in alphabetical order by class and series, if any, of
beneficial interests showing the number and class and series, if any, of
beneficial interests held by each.

D. A business trust shall maintain its records in written form or in another
form capable of conversion into written form within a reasonable time.

E. A business trust shall keep a copy of the following records:

   1. Its articles or restated articles of trust and all amendments to them
   currently in effect;

   2. Its governing instrument and all amendments to it currently in effect;

   3. Resolutions adopted by its trustees creating one or more classes or series
   of beneficial interests, and fixing their relative rights, preferences, and
   limitations, if beneficial interests issued pursuant to those resolutions are
   outstanding;

   4. The minutes of all meetings of beneficial owners, and records of all action
   taken by beneficial owners without a meeting, for the past three years;

   5. All written communications to beneficial owners generally within the past
   three years; and

   6. A list of the names and business addresses of its current trustees and
   officers.

HISTORY: 2002, c. 621.