13.1-1252 - Annual registration fees to be paid by domestic and foreign business trusts. - Virginia Statutes

§ 13.1-1252. Annual registration fees to be paid by domestic and foreignbusiness trusts.

A. Every domestic business trust, and every foreign business trust registeredto transact business in the Commonwealth, shall pay into the state treasuryon or before October 1 in each year after the calendar year in which it wasformed or registered to transact business in the Commonwealth an annualregistration fee of $50.

B. The fees paid into the state treasury under this section and the feescollected under § 13.1-1204 shall be set aside and paid into the special fundcreated under § 13.1-775.1, and shall be used only by the Commission as itdeems necessary to defray the costs of the Commission and of the office ofthe clerk of the Commission in supervising, implementing, administering andenforcing the provisions of this chapter. The projected excess of feescollected over the costs of administration and enforcement so incurred shallbe paid into the general fund prior to the close of each fiscal year, basedon the unexpended balance of the special fund at the end of the prior fiscalyear. An adjustment of this transfer amount to reflect actual fees collectedshall occur during the first quarter of the succeeding fiscal year.

(2002, c. 621; 2007, c. 810.)