Code of Virginia § 13.1-1267. Action on plan of domestication by a domestic business trust.
149 words·~1 min read·
/va/title-13-1/chapter-14/13-1-1267·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
A. The plan of domestication shall be approved by the trustees of the domestic business trust in the manner provided in the business trust's governing instrument or articles of trust for amendments or, if no such provision is made in a governing instrument or articles of trust, by the sole trustee or a majority of the trustees of the business trust.
B. The business trust shall notify each trustee, whether or not entitled to vote, and each member of a voting group of the proposed trustees' meeting at which the plan of domestication is to be submitted for approval. The notice, which shall be given no less than twenty-five nor more than sixty days before the meeting date, shall state that a purpose of the meeting is to consider the plan of domestication and shall contain or be accompanied by a copy of the plan.
2002, c. 621 .