§ 13.1-1239. (Effective until April 1, 2009) Reinstatement
A business trust that has filed articles of cancellation may be relieved of the cancellation and its certificate of trust shall be reinstated by filing articles of reinstatement in the form prescribed by the Commission not later than five years following the date of cancellation, together with payment of a reinstatement fee of $100 and all registration fees and penalties that were due before the certificate of trust was canceled or that would have become due had the certificate of trust not been canceled. If the name of the business trust is not available at the time of reinstatement, as a condition to reinstatement, the articles of reinstatement shall contain an amendment to the articles of trust to change the business trust's name. If the business trust complies with the provisions of this section, the Commission shall reinstate the certificate of trust of the business trust, and the business trust shall be deemed not to have had its certificate of trust canceled. In that event, the reinstated business trust shall resume carrying on its business as if neither cancellation nor dissolution had ever occurred, and any liability incurred by that business trust or a beneficial owner, trustee or other agent after the cancellation and before the reinstatement is determined as if cancellation had never occurred.
(2002, c. 621; 2004, c. 601.)
§ 13.1-1239. (Effective April 1, 2009) Reinstatement of a business trust that has ceased to exist.
A. A business trust that has ceased to exist may apply to the Commission for reinstatement within five years thereafter, unless the cancellation was by order of the Commission (i) entered pursuant to subdivision A 1 of § 13.1-1238.2 or (ii) entered pursuant to § 13.1-1235 and the circuit court's decree directing dissolution contains no provision for reinstatement of the existence of the business trust.
B. To have its existence reinstated, a business trust shall provide the Commission with the following:
1. An application for reinstatement signed by a trustee or an officer of the trust, which may be in the form of a letter;
2. A reinstatement fee of $100;
3. All annual registration fees and penalties that were due before the business trust ceased to exist and that would have been assessed or imposed to the date of reinstatement if the business trust's existence had not been canceled;
4. If the name of the business trust does not comply with the provisions of § 13.1-1214 at the time of reinstatement, articles of amendment to the articles of trust to change the business trust's name to a name that satisfies the provisions of § 13.1-1214, with the fee required by this chapter for the filing of articles of amendment; and
5. If the business trust's registered agent has filed a statement of resignation and a new registered agent has not been appointed, a statement of change pursuant to § 13.1-1221.
C. If the business trust complies with the provisions of this section, the Commission shall enter an order of reinstatement of existence. Upon entry of the order, the existence of the business trust shall be deemed to have continued from the date of the cancellation as if the cancellation had never occurred, and any liability incurred by the business trust or a beneficial owner, trustee or other agent after the cancellation and before the reinstatement is determined as if cancellation of the business trust's existence had never occurred.
(2002, c. 621; 2004, c. 601; 2008, c. 101.)
Sections: Previous 13.1-1234 13.1-1235 13.1-1236 13.1-1237 13.1-1238 13.1-1238.1 13.1-1238.2 13.1-1239 13.1-1240 13.1-1241 13.1-1242 13.1-1243 13.1-1244 13.1-1245 13.1-1246 NextLast modified: April 16, 2009