13.1-1235 - Judicial dissolution.
§ 13.1-1235. Judicial dissolution.
A. On application by or for a beneficial owner, the circuit court of the cityor county in which the registered office of the business trust is located maydecree dissolution of a business trust if it is not reasonably practicable tocarry on the business in conformity with the articles of trust and anygoverning instrument.
B. When the winding up of the affairs of the business trust has beencompleted, the court shall so advise the Commission, which shall enter anorder of cancellation of the business trust's existence.
(2002, c. 621; 2008, c. 101.)