Code of Virginia (Last Updated:July 28, 2020) |
TITLE 13.1. Corporations |
CHAPTER 14. Virginia Business Trust Act |
ARTICLE 8. Dissolution |
SECTION 13.1-1234. Dissolution generally |
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 § 13.1-1235 ; or 5. Involuntary cancellation of its existence pursuant to § 13.1-1235 . 2002, c. 13.1-1235 ; 2008, cc. 13.1-1235 , 13.1-1235 , 13.1-1235 ; 2009, c. 13.1-1235 . |