STATE STATUTES & CODES
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VIRGINIA STATUTES AND CODES
13.1-1282 - Construction and application of chapter and governing instrument.
§ 13.1-1282. Construction and application of chapter and governing instrument.
A. The rule that statutes in derogation of the common law are to be strictlyconstrued shall have no application to this chapter.
B. This chapter shall be construed in furtherance of the policies of givingmaximum effect to the principle of freedom of contract and of enforcinggoverning instruments.
C. To the extent any provision of this chapter is inconsistent with theprovisions of Sections 856 through 859 of the United States Internal RevenueCode of 1986, as amended, or any successor provision, such provisions of theInternal Revenue Code shall prevail with respect to any business trust formedunder this chapter that also qualifies as a real estate investment trustunder such provisions.
(2002, c. 621.)