Dissolution generally
Va. Code Ann. § 13.1-1234
in effectA 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:
1. At the time or on the happening of any events specified in writing in the articles of trust or a governing instrument;
2. Upon the unanimous written consent of the beneficial owners;
3. The entry of a decree of judicial dissolution under § 13.1-1235 ;
4. Automatic cancellation of its existence pursuant to § 13.1-1238.1 ; or
5. Involuntary cancellation of its existence pursuant to § 13.1-1238.2 .
2002, c. 621 ; 2008, cc. 101 , 588 , 770 ; 2009, c. 167 .
Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://law.lis.virginia.gov/vacode/13.1-1234/Fetched: 10/16/2026