2010 Code of Virginia
Title 55 - PROPERTY AND CONVEYANCES.
Chapter 31 - Uniform Trust Code (55-541.01 thru 55-551.06)
55-544.10 - Modification or termination of trust; proceedings for approval or disapproval.
§ 55-544.10. Modification or termination of trust; proceedings for approval or disapproval.
A. In addition to the methods of termination prescribed by §§ 55-544.11 through 55-544.14, a trust terminates to the extent the trust is revoked or expires pursuant to its terms, no purpose of the trust remains to be achieved, or the purposes of the trust have become unlawful, contrary to public policy, or impossible to achieve.
B. A proceeding to approve or disapprove a proposed modification or termination under §§ 55-544.11 through 55-544.16, or trust combination or division under § 55-544.17, may be commenced by a trustee or beneficiary. The settlor of a charitable trust may maintain a proceeding to modify the trust under § 55-544.13.
(2005, c. 935.)
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