Code of Virginia - Title 13.1 Corporations - Section 13.1-1278 Trust records
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§ 13.1-1278. Trust records
A. A business trust shall keep minutes of all meetings of its beneficial owners and trustees, a record of all actions taken by the beneficial owners or trustees without a meeting, and a record of all actions taken by a committee of the trustees on behalf of the business trust.
B. A business trust shall maintain appropriate accounting records.
C. A business trust or its agent shall maintain a record of its beneficial owners, in a form that permits preparation of a list of the names and addresses of all beneficial owners, in alphabetical order by class and series, if any, of beneficial interests showing the number and class and series, if any, of beneficial interests held by each.
D. A business trust shall maintain its records in written form or in another form capable of conversion into written form within a reasonable time.
E. A business trust shall keep a copy of the following records:
1. Its articles or restated articles of trust and all amendments to them currently in effect;
2. Its governing instrument and all amendments to it currently in effect;
3. Resolutions adopted by its trustees creating one or more classes or series of beneficial interests, and fixing their relative rights, preferences, and limitations, if beneficial interests issued pursuant to those resolutions are outstanding;
4. The minutes of all meetings of beneficial owners, and records of all action taken by beneficial owners without a meeting, for the past three years;
5. All written communications to beneficial owners generally within the past three years; and
6. A list of the names and business addresses of its current trustees and officers.
(2002, c. 621.)Sections: Previous 13.1-1271 13.1-1272 13.1-1273 13.1-1274 13.1-1275 13.1-1276 13.1-1277 13.1-1278 13.1-1279 13.1-1280 13.1-1281 13.1-1282 13.1-1283 13.1-1284 13.1-1285 Next
Last modified: April 3, 2009