A beneficial owner may bring a derivative proceeding in the right of a business trust to the same extent, and in the same manner, that a shareholder may bring a derivative proceeding under Chapter 9 (§ 13.1-601 et seq.) of this title.
Va. Code Ann. § 13.1-1232
Right of action
Known as the Virginia Business Trust Act
The act spans §§ 13.1-1200 to 13.1-1285 (93 sections).
2002, c. 621.
Official source: Virginia Law Portal (LIS). Reproduced from public-domain Virginia statutes; confirm against the official source for the current text. Not legal advice.