{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2026\/code-json\/6.2-1178.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2026\/code-text\/6.2-1178.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2026\/code-xml\/6.2-1178.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2026\/code-html\/6.2-1178.html"}],"law_id":373704,"edition_id":2,"section_id":373704,"structure_id":53171,"section_number":"6.2-1178","catch_line":"Accounts held by various trustees for same beneficiary","history":"Code 1950, \u00a7 6-201.22:1; 1966, cc. 219, 584, \u00a7 6.1-149.1; 1972, c. 796, \u00a7 6.1-195.24; 1985, c. 425, \u00a7 6.1-194.61; 2010, c. 794.","full_text":"Whenever trust interests or accounts are created for the same beneficiary, and each interest or account is in the name of a separate and distinct trustee or combination of trustees, each trust interest or account shall constitute a separate, distinct, and valid trust entity for all purposes.\n\n","order_by":null,"text":{"0":{"id":1394718,"text":"Whenever trust interests or accounts are created for the same beneficiary, and each interest or account is in the name of a separate and distinct trustee or combination of trustees, each trust interest or account shall constitute a separate, distinct, and valid trust entity for all purposes.","type":"section","prefixes":[""],"prefix":"","entire_prefix":"","prefix_anchor":"","level":1}},"ancestry":[{"id":53171,"edition_id":2,"name":"Accounts","identifier":"6","label":"article","depth":4,"order_by":6,"parent_id":53165,"metadata":{"child_laws":13,"child_structures":0},"date_created":"2026-08-02 03:12:04","date_modified":"2026-08-02 12:28:03","permalink":{"id":1491379,"object_type":"structure","relational_id":53171,"identifier":"6","token":"6.2\/II\/11\/6","url":"\/6.2\/II\/11\/6\/","edition_id":2,"permalink":0,"preferred":1}},{"id":53165,"edition_id":2,"name":"Savings Institutions","identifier":"11","label":"chapter","depth":3,"order_by":5,"parent_id":53156,"metadata":{"child_laws":106,"child_structures":9},"date_created":"2026-08-02 03:11:54","date_modified":"2026-08-02 12:28:02","permalink":{"id":1491103,"object_type":"structure","relational_id":53165,"identifier":"11","token":"6.2\/II\/11","url":"\/6.2\/II\/11\/","edition_id":2,"permalink":0,"preferred":1}},{"id":53156,"edition_id":2,"name":"Depository Institutions and Trust Organizations","identifier":"II","label":"subtitle","depth":2,"order_by":2,"parent_id":53152,"metadata":{"child_laws":483,"child_structures":51},"date_created":"2026-08-02 03:11:42","date_modified":"2026-08-02 12:27:56","permalink":{"id":1490687,"object_type":"structure","relational_id":53156,"identifier":"II","token":"6.2\/II","url":"\/6.2\/II\/","edition_id":2,"permalink":0,"preferred":1}},{"id":53152,"edition_id":2,"name":"Financial Institutions and Services","identifier":"6.2","label":"title","depth":1,"order_by":10,"parent_id":null,"metadata":{"child_laws":961,"child_structures":89},"date_created":"2026-08-02 03:11:41","date_modified":"2026-08-02 12:27:53","permalink":{"id":1490251,"object_type":"structure","relational_id":53152,"identifier":"6.2","token":"6.2","url":"\/6.2\/","edition_id":2,"permalink":0,"preferred":1}}],"structure_contents":[{"id":373692,"structure_id":53171,"section_number":"6.2-1166","catch_line":"Accounts of state savings institutions","url":"\/6.2-1166\/","token":"6.2\/II\/11\/6\/6.2-1166","metadata":{"court_decisions":""}},{"id":373693,"structure_id":53171,"section_number":"6.2-1167","catch_line":"Rules governing withdrawal","url":"\/6.2-1167\/","token":"6.2\/II\/11\/6\/6.2-1167","metadata":false},{"id":373694,"structure_id":53171,"section_number":"6.2-1168","catch_line":"Redemption","url":"\/6.2-1168\/","token":"6.2\/II\/11\/6\/6.2-1168","metadata":{"court_decisions":""}},{"id":373695,"structure_id":53171,"section_number":"6.2-1169","catch_line":"Accounts of savings institutions as legal investments and as security","url":"\/6.2-1169\/","token":"6.2\/II\/11\/6\/6.2-1169","metadata":false},{"id":373696,"structure_id":53171,"section_number":"6.2-1170","catch_line":"Deposits of federal taxes and U.S. Treasury tax and loan accounts","url":"\/6.2-1170\/","token":"6.2\/II\/11\/6\/6.2-1170","metadata":false},{"id":373697,"structure_id":53171,"section_number":"6.2-1171","catch_line":"Accounts under federal Self-Employed Individuals Tax Retirement Act and federal Employee Retirement Income Security Act of 1974 (P.L. 93-406, 88 Stat. 829)","url":"\/6.2-1171\/","token":"6.2\/II\/11\/6\/6.2-1171","metadata":false},{"id":373698,"structure_id":53171,"section_number":"6.2-1172","catch_line":"Accounts issued in name of minor","url":"\/6.2-1172\/","token":"6.2\/II\/11\/6\/6.2-1172","metadata":false},{"id":373699,"structure_id":53171,"section_number":"6.2-1173","catch_line":"Powers of attorney on accounts","url":"\/6.2-1173\/","token":"6.2\/II\/11\/6\/6.2-1173","metadata":{"court_decisions":""}},{"id":373700,"structure_id":53171,"section_number":"6.2-1174","catch_line":"Accounts of deceased or incompetent persons","url":"\/6.2-1174\/","token":"6.2\/II\/11\/6\/6.2-1174","metadata":false},{"id":373701,"structure_id":53171,"section_number":"6.2-1175","catch_line":"Repealed","url":"\/6.2-1175\/","token":"6.2\/II\/11\/6\/6.2-1175","metadata":false},{"id":373702,"structure_id":53171,"section_number":"6.2-1176","catch_line":"Accounts of fiduciaries","url":"\/6.2-1176\/","token":"6.2\/II\/11\/6\/6.2-1176","metadata":{"court_decisions":""}},{"id":373703,"structure_id":53171,"section_number":"6.2-1177","catch_line":"Savings institution need not inquire as to fiduciary funds deposited in fiduciary's personal account","url":"\/6.2-1177\/","token":"6.2\/II\/11\/6\/6.2-1177","metadata":false},{"id":373704,"structure_id":53171,"section_number":"6.2-1178","catch_line":"Accounts held by various trustees for same beneficiary","url":"\/6.2-1178\/","token":"6.2\/II\/11\/6\/6.2-1178","metadata":{"court_decisions":""}}],"previous_section":{"id":373703,"structure_id":53171,"section_number":"6.2-1177","catch_line":"Savings institution need not inquire as to fiduciary funds deposited in fiduciary's personal account","url":"\/6.2-1177\/","token":"6.2\/II\/11\/6\/6.2-1177","metadata":false},"metadata":{"court_decisions":""},"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/6.2-1178\/","history_text":"<p>The record of this law\u2019s original creation isn\u2019t available online. It has been modified 4 times. Those modifications are cataloged by \u201cThe Acts of Assembly,\u201d a state publication, by year and chapter. Those modifications that can be read on the General Assembly\u2019s website will be linked accordingly. Those modifications are as follows: in 1966, chapters 219 and 584; in 1972, chapter 796; in 1985, chapter 425; in 2010, chapter <a href=\"https:\/\/legacylis.virginia.gov\/cgi-bin\/legp604.exe?101+ful+CHAP0794\">794<\/a>.<\/p>","references":false,"refers_to":false,"permalink":{"id":1491429,"object_type":"law","relational_id":373704,"identifier":"6.2-1178","token":"6.2\/II\/11\/6\/6.2-1178","url":"\/6.2-1178\/","edition_id":2,"permalink":0,"preferred":1},"url":"\/6.2-1178\/","token":"6.2\/II\/11\/6\/6.2-1178","dublin_core":{"Title":"Accounts held by various trustees for same beneficiary","Type":"Text","Format":"text\/html","Identifier":"\u00a7 6.2-1178","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t<section><p>Whenever trust interests or <span class=\"dictionary\">accounts<\/span> are created for the same beneficiary, and each interest or <span class=\"dictionary\">account<\/span> is in the name of a separate and distinct trustee or combination of trustees, each trust interest or <span class=\"dictionary\">account<\/span> shall constitute a separate, distinct, and valid trust <span class=\"dictionary\">entity<\/span> for all purposes.<\/p><\/section>","plain_text":"                                 CODE OF VIRGINIA\n\nACCOUNTS HELD BY VARIOUS TRUSTEES FOR SAME BENEFICIARY (\u00a7 6.2-1178)\n\nWhenever trust interests or accounts are created for the same beneficiary, and\neach interest or account is in the name of a separate and distinct trustee or\ncombination of trustees, each trust interest or account shall constitute a\nseparate, distinct, and valid trust entity for all purposes.\n\nHISTORY: Code 1950, \u00a7 6-201.22:1; 1966, cc. 219, 584, \u00a7 6.1-149.1; 1972, c.\n796, \u00a7 6.1-195.24; 1985, c. 425, \u00a7 6.1-194.61; 2010, c. 794.","edition":{"id":2,"name":"2026","slug":"2026","date_created":"2026-07-16 18:40:23","date_modified":"2026-08-02 15:14:36","current":1,"order_by":2,"last_import":"2026-08-02 12:37:30"}}