13.1-1262 - Governing instrument. - Virginia Statutes

§ 13.1-1262. Governing instrument.

A. Notwithstanding anything to the contrary contained in the governinginstrument of a business trust, a governing instrument of a business trustcontaining a specific reference to this section may provide that an agreementof merger approved in accordance with this article may:

1. Effect any amendment to the governing instrument of the business trust; or

2. Effect the adoption of a new governing instrument of the business trust ifit is the successor trust in the merger.

B. 1. Any amendment to the governing instrument of a business trust oradoption of a new governing instrument of the business trust made under thissection shall be effective at the effective time or date of the merger.

2. The provisions of this subsection shall not be construed to limit theaccomplishment of a merger or of any of the matters referred to herein by anyother means provided for in the governing instrument of a business trust orother agreement or as otherwise permitted by law, including that thegoverning instrument of any constituent business trust to the merger shall bethe governing instrument of the successor trust.

(2002, c. 621.)