Code of Virginia § 13.1-1234. Dissolution generally.

113 words·~1 min read·/va/title-13-1/chapter-14/13-1-1234·

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

A business trust organized under this chapter is dissolved and its affairs shall be wound up upon the happening of the first to occur of the following events:

1. At the time or on the happening of any events specified in writing in the articles of trust or a governing instrument;

2. Upon the unanimous written consent of the beneficial owners;

3. The entry of a decree of judicial dissolution under § 13.1-1235 ;

4. Automatic cancellation of its existence pursuant to § 13.1-1238.1 ; or

5. Involuntary cancellation of its existence pursuant to § 13.1-1238.2 .

2002, c. 621 ; 2008, cc. 101 , 588 , 770 ; 2009, c. 167 .