55-542.02 - Jurisdiction over trustee and beneficiary. - Virginia Statutes

§ 55-542.02. Jurisdiction over trustee and beneficiary.

A. By accepting the trusteeship of a trust having its principal place ofadministration in the Commonwealth or by moving the principal place ofadministration to the Commonwealth, the trustee submits personally to thejurisdiction of the courts of the Commonwealth regarding any matter involvingthe trust.

B. With respect to their interests in the trust, the beneficiaries of a trusthaving its principal place of administration in the Commonwealth are subjectto the jurisdiction of the courts of the Commonwealth regarding any matterinvolving the trust. By accepting a distribution from such a trust, therecipient submits personally to the jurisdiction of the courts of theCommonwealth regarding any matter involving the trust.

C. This section does not preclude other methods of obtaining jurisdictionover a trustee, beneficiary, or other person receiving property from thetrust.

(2005, c. 935.)