CODE OF VIRGINIA

DELEGATION BY TRUSTEE (§ 64.2-769)

A. A trustee may delegate duties and powers that a prudent trustee of comparable
skills could properly delegate under the circumstances. The trustee shall
exercise reasonable care, skill, and caution in:

   1.  Selecting an agent;

   2.  Establishing the scope and terms of the delegation, consistent with the
   purposes and terms of the trust; and

   3.  Periodically reviewing the agent’s actions in order to monitor the
   agent’s performance and compliance with the terms of the delegation.

B. In performing a delegated function, an agent owes a duty to the trust to
exercise reasonable care to comply with the terms of the delegation.

C. A trustee who complies with subsection A is not liable to the beneficiaries
or to the trust for an action of the agent to whom the function was delegated.

D. By accepting a delegation of powers or duties from the trustee of a trust
that is subject to the law of the Commonwealth, an agent submits to the
jurisdiction of the courts of the Commonwealth.

HISTORY: 2005, c. 935, § 55-548.07; 2012, c. 614.