§ 64-2-1042

A. A notice required by subdivision B 2 of § 64.2-1041 shall be sent in a manner authorized under § 64.2-707 to:\n1. The qualified beneficiaries determined under § 64.2-701, other than the Attorney General;\n2. Each person acting as trust director of the trust under the Uniform Directed Trust Act (§ 64.2-779.26 et seq.); and\n3. Each person that is granted a power by the terms of the trust to appoint or remove a trustee or person described in subdivision 2, to the extent the power is exercisable when the person that exercises the power is not then serving as a trustee or person described in subdivision 2.\nB. The representation provisions of Article 3 (§ 64.2-714 et seq.) of Chapter 7 apply to notice under this section.\nC. A person may consent in a record at any time to action proposed under subdivision B 2 of § 64.2-1041. A notice required by subdivision B 2 of § 64.2-1041 need not be sent to a person that consents under this subsection.\nD. A notice required by subdivision B 2 of § 64.2-1041 shall include:\n1. The action proposed under subdivision B 2 of § 64.2-1041;\n2. For a conversion of an income trust to a unitrust, a copy of the unitrust policy adopted under subdivision A

64.2-1041 shall include:\n1. The action proposed under subdivision B 2 of § 64.2-1041;\n2. For a conversion of an income trust to a unitrust, a copy of the unitrust policy adopted under subdivision A 1 of § 64.2-1041;\n3. For a change in the percentage or method used to calculate the unitrust amount, a copy of the unitrust policy or amendment or replacement of the unitrust policy adopted under subdivision A 2 of § 64.2-1041;\n4. A statement that the person to which the notice is sent may object to the proposed action by stating in a record the basis for the objection and sending or delivering the record to the fiduciary;\n5. The date by which an objection under subdivision 4 must be received by the fiduciary, which must be at least 30 days after the date the notice is sent;\n6. The date on which the action is proposed to be taken and the date on which the action is proposed to take effect;\n7. The name and contact information of the fiduciary; and\n8. The name and contact information of a person that may be contacted for additional information.\n2022, c. 354.