13.1-1265 - Domestication. - Virginia Statutes

§ 13.1-1265. Domestication.

A. A foreign business trust, corporation, limited liability company, limitedpartnership, partnership or other entity may become a domestic business trustif the laws of the jurisdiction in which the foreign entity is formedauthorize it to domesticate in another jurisdiction. The laws of thisCommonwealth shall govern the effect of domesticating in this Commonwealthpursuant to this article.

B. A domestic business trust not required by law to be a domestic businesstrust may become a foreign business trust if the jurisdiction in which thebusiness trust intends to domesticate allows for the domestication.Regardless of whether the laws of the foreign jurisdiction require theadoption of a plan of domestication, the domestication shall be approved inthe manner provided in this article. The laws of the jurisdiction in whichthe business trust domesticates shall govern the effect of domesticating inthat jurisdiction.

(2002, c. 621.)