Source: https://law.lis.virginia.gov/vacode/title6.2/chapter10/section6.2-1003/
Timestamp: 2019-12-16 05:28:38
Document Index: 79479001

Matched Legal Cases: ['§ 6', '§ 6', '§ 6', '§ 19', '§ 6', '§ 6']

§ 6.2-1003. When security not required; payment of probate taxes and fees
Table of Contents » Title 6.2. Financial Institutions and Services » Subtitle II. Depository Institutions and Trust Organizations » Chapter 10. Entities Conducting Trust Business » Article 1. Trust Powers and Trust Business » § 6.2-1003. When security not required; payment of probate taxes and fees
§ 6.2-1003. When security not required; payment of probate taxes and fees.
A. No bank or trust company with a minimum unimpaired capital stock of $50,000 or more shall be required by any officer or court of the Commonwealth to (i) give security upon appointment to or acceptance of any office of trust which it may, by law, be authorized to execute or (ii) give security upon any bond given pursuant to § 19.2-386.6 or similar statute; however, no bank or trust company shall qualify on an estate having a value in excess of its combined unimpaired capital and surplus without giving bond for such excess.
B. When such bank or trust company shall qualify on any office of trust, the clerk in lieu of collecting the fees under Title 17.1 and probate taxes may render a bill or statement to the bank or trust company to be paid within five business days.
Code 1950, § 6-95; 1966, c. 584, § 6.1-18; 1988, c. 348; 1993, c. 866; 2010, c. 794; 2012, cc. 283, 756.