{"data":{"id":"us-va/va.-code-13.1-1241","jurisdiction":"us-va","citation":"Va. Code § 13.1-1241","heading":"Authority to transact business required; governing law","body":"A. A foreign business trust may not transact business in the Commonwealth until it obtains a certificate of registration from the Commission.B. Subject to the Constitution of the Commonwealth:1. The laws of the state or other jurisdiction under which a foreign business trust is formed govern its formation and internal affairs and the liability of its beneficial owners and trustees; and2. A foreign business trust may not be denied a certificate of registration by reason of any difference between those laws and the laws of the Commonwealth.However, a foreign business trust holding a valid certificate of registration to transact business in the Commonwealth shall have no greater rights and privileges than a domestic business trust. The certificate of registration shall not be deemed to authorize the foreign business trust to exercise any of its powers or purposes that a domestic business trust is forbidden by law to exercise in the Commonwealth.2002, c. 621; 2008, c. 101.","path":["Title 13.1. CORPORATIONS","Chapter 14. VIRGINIA BUSINESS TRUST ACT","Article 9. FOREIGN BUSINESS TRUSTS"],"source_url":"https://law.lis.virginia.gov/vacode/13.1-1241/","current_through":"9/4/2026","vintage":"","retrieved_at":"2026-09-04T15:14:14Z","sha256":"5479ed890a5f72603cc09985788b767f686e30dea5018345870469b9a65ebc47","source_id":"us-va","stale":true,"prev":"us-va/va.-code-13.1-1240","next":"us-va/va.-code-13.1-1242"},"notice":"GroundRules: Original legal text. Not legal advice."}