Appointment, Qualification, Resignation, and Removal of Fiduciaries This is the 2025 edition of the code. There is not the current edition. Browse all editions.
This is Article 1 of the Code of Virginia, titled “Appointment, Qualification, Resignation, and Removal of Fiduciaries.” It is part of Chapter 14 “Fiduciaries Generally”, which is part of Part A “Fiduciaries”, which is part of Subtitle IV “Fiduciaries and Guardians”, which is part of Title 64.2 “Wills, Trusts, and Fiduciaries”.
It’s comprised of the following 26 sections.
§ 64.2-1400 Authority to qualify trustee; necessity for security; notice of qualification; qualification by less than all of trustees named
§ 64.2-1401 Jurisdiction for qualification of testamentary trustee; qualification and bond; when surety not required
§ 64.2-1402 Jurisdiction for qualification of certain testamentary trustees and trustees generally
§ 64.2-1403 Qualification of trustees
§ 64.2-1404 New fiduciary appointed when authority of former revoked
§ 64.2-1405 Court may appoint trustee in place of one named in will, deed, or other writing; management by corporate trustee outside of the Commonwealth
§ 64.2-1406 Notice required; certain substitutions validated
§ 64.2-1407 Who to execute the trust until new trustee appointed
§ 64.2-1408 Circuit court may exercise same powers in suit to enforce or administer trust
§ 64.2-1409 Information to be provided to clerk by fiduciary
§ 64.2-1410 When court may require new bond or revoke authority; giving new bond upon motion of fiduciary, surety, or other party in interest
§ 64.2-1411 When fiduciary may qualify without security; requirements for issuance of certificates of qualification; payments
§ 64.2-1412 How trustee required to give bond; when to be removed and another appointed
§ 64.2-1413 Placing certain trust assets in designated financial institutions; waiver or reduction of bond of fiduciary
§ 64.2-1414 Effect of orders of qualification of bank as committee or guardian
§ 64.2-1415 Liability for losses by negligence or failure to make defense
§ 64.2-1416 Liability of fiduciary for actions of cofiduciary
§ 64.2-1417 How judgment may be entered against personal representative, conservator, or committee
§ 64.2-1418 Court order for payments due from fiduciaries; effect
§ 64.2-1419 Execution of fiduciary bond or appointment of agent designates clerk as attorney for service of process
§ 64.2-1420 Clerk to mail notice, process, or rule to person served
§ 64.2-1421 What judgment or decree based upon service upon clerk shall specifically adjudicate
§ 64.2-1422 Environmental liability of fiduciaries
§ 64.2-1423 Trustee not disqualified due to status as stockholder, employee, or officer of corporate noteholder; sale of property by trustee not voidable
§ 64.2-1424 Resignation by fiduciary of his trust
§ 64.2-1425 How securities transferred to successor