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<law><site_title>Virginia Decoded</site_title><site_url>https://vacode.org</site_url><law_id>346495</law_id><section_number>13.1-1225</section_number><catch_line>Limited liability</catch_line><edition url="https://vacode.org/2026/" slug="2026" current="TRUE" last_updated="2026-08-02">2026</edition><structure><unit label="title" level="1" order_by="44" identifier="13.1">Corporations</unit><unit label="chapter" level="2" order_by="17" identifier="14">Virginia Business Trust Act</unit><unit label="article" level="3" order_by="4" identifier="4">Beneficial Owners</unit></structure><text>
						<section><p>Except to the extent otherwise expressly provided in the <span class="dictionary">governing instrument</span> of the <span class="dictionary">business trust</span>, the <span class="dictionary">beneficial owners</span> shall be entitled to the same limitation of personal liability extended to shareholders of a Virginia corporation formed under Chapter 9 (&#xA7;&#xA0;<a class="law" title="Short title" href="/13.1-601/">13.1-601</a> et seq.) of this title.</p></section></text><history>2002, c. 621.</history><metadata></metadata></law>
