<?xml version="1.0"?>
<law><law_id>793330</law_id><section_number>13.1-1234</section_number><site_title>Virginia Decoded</site_title><site_url>https://vacode.org</site_url><edition url="https://vacode.org/2016/" id="11" last_updated="2016-07-24" current="TRUE">2016</edition><structure><unit level="1" identifier="13.1" url="https://vacode.org/2016/13.1/">Corporations</unit><unit level="2" identifier="14" url="https://vacode.org/2016/13.1/14/">Virginia Business Trust Act</unit><unit level="3" identifier="8" url="https://vacode.org/2016/13.1/14/8/">Dissolution</unit></structure><catch_line>Dissolution generally</catch_line><history>2002, c. 621; 2008, cc. 101, 588, 770; 2009, c. 167.</history><order_by/><text><section id="2560393" prefix=""><text>A business trust organized under this chapter is dissolved and its affairs shall be wound up upon the happening of the first to occur of the following events:</text><type>section</type><prefixes><section/></prefixes><entire_prefix/><prefix_anchor/><level>1</level></section><section id="2560394" prefix="1"><text> At the time or on the happening of any events specified in writing in the articles of trust or a governing instrument;</text><type>section</type><prefixes><section/><section>1</section></prefixes><entire_prefix>1</entire_prefix><prefix_anchor>1</prefix_anchor><level>2</level></section><section id="2560395" prefix="2"><text> Upon the unanimous written consent of the beneficial owners;</text><type>section</type><prefixes><section/><section>2</section></prefixes><entire_prefix>2</entire_prefix><prefix_anchor>2</prefix_anchor><level>2</level></section><section id="2560396" prefix="3"><text> The entry of a decree of judicial dissolution under &#xA7; 13.1-1235;</text><type>section</type><prefixes><section/><section>3</section></prefixes><entire_prefix>3</entire_prefix><prefix_anchor>3</prefix_anchor><level>2</level></section><section id="2560397" prefix="4"><text> Automatic cancellation of its existence pursuant to &#xA7; 13.1-1238.1; or</text><type>section</type><prefixes><section/><section>4</section></prefixes><entire_prefix>4</entire_prefix><prefix_anchor>4</prefix_anchor><level>2</level></section><section id="2560398" prefix="5"><text> Involuntary cancellation of its existence pursuant to &#xA7; 13.1-1238.2.</text><type>section</type><prefixes><section/><section>5</section></prefixes><entire_prefix>5</entire_prefix><prefix_anchor>5</prefix_anchor><level>2</level></section></text><metadata/><court_decisions/><official_url>http://law.lis.virginia.gov/vacode/13.1-1234/</official_url><refers_to/><url>/13.1-1234/</url><token>13.1/14/8/13.1-1234</token><referred_to_by><reference>13.1-1218</reference></referred_to_by></law>
