The Commission shall assess and collect the annual registration fees imposed by this chapter. When the Commission receives payment of a registration fee assessed against a domestic or foreign business trust, such payment shall be applied against any unpaid registration fees previously assessed against such business trust, including any penalties incurred thereon, beginning with the assessment that has remained unpaid for the longest period of time.
Va. Code Ann. § 13.1-1251
Annual registration fees to be assessed and collected by Commission; application of payment
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.