13.1-1246.1 - Automatic cancellation of registration. - Virginia Statutes

§ 13.1-1246.1. Automatic cancellation of registration.

A. If any foreign business trust fails to pay its annual registration fee onor before December 31 of the year assessed, its certificate of registrationto transact business in the Commonwealth shall be automatically canceled asof that day.

B. If any foreign business trust whose registered agent has filed with theCommission a statement of resignation pursuant to § 13.1-1222 fails to file astatement of change pursuant to § 13.1-1221 within 31 days after the date onwhich the statement of resignation was filed, the Commission shall mailnotice to the foreign business trust of the impending cancellation of itscertificate of registration. If the business trust fails to file thestatement of change before the last day of the second month immediatelyfollowing the month in which the impending cancellation notice was mailed,the business trust shall automatically cease to be authorized to transactbusiness in the Commonwealth and its certificate of registration shall beautomatically canceled as of that day.

(2008, c. 101.)