13.1-1217 - Restatement of articles of trust. - Virginia Statutes

§ 13.1-1217. Restatement of articles of trust.

A. Except to the extent otherwise provided in this chapter, in the articlesof trust or in the governing instrument of the business trust, the soletrustee or a majority of the trustees may restate the articles of trust of abusiness trust at any time.

B. The restatement may include one or more amendments to the articles,including an amendment to delete the name and address of the initialregistered agent or registered office, if a statement of change described in§ 13.1-1221 is on file with the Commission.

C. A business trust restating its articles of trust shall file with theCommission articles of restatement setting forth:

1. The name of the business trust immediately prior to restatement;

2. Whether the restatement contains an amendment to the articles of trust;

3. The text of the restated articles of trust or amended and restatedarticles of trust;

4. The date of adoption of the articles of restatement; and

5. A statement that the restatement was adopted in accordance with thearticles of trust and the governing instrument of the business trust.

D. If the Commission finds that the articles of restatement comply with therequirements of law and that all required fees have been paid, it shall issuea certificate of restatement. When the certificate of restatement iseffective, the restated articles of trust or amended and restated articles oftrust supersede the original articles of trust and all amendments to theoriginal articles of trust.

E. The Commission may certify restated articles of trust or amended andrestated articles of trust as the articles of trust currently in effect.

(2002, c. 621; 2003, c. 373; 2008, c. 101.)