26-4 - When fiduciary may qualify without security. - Virginia Statutes

§ 26-4. When fiduciary may qualify without security.

The several courts in this Commonwealth and the clerks thereof, havingjurisdiction to appoint personal representatives, guardians, conservators andcommittees may, in their discretion, when the amount coming into the hands orpossession of the personal representative, guardian of a minor, conservatoror committee does not exceed $15,000, allow any such personal representative,guardian, conservator or committee to qualify by giving bond without surety.Any personal representative or trustee serving jointly with a bank or trustcompany exempted from giving surety on its bond as such under § 6.1-18 shall,unless the court shall otherwise direct, be likewise exempt.

(1918, p. 469; 1934, p. 24; Michie Code 1942, § 5371a; 1946, p. 492; 1964, c.172; 1976, c. 338; 1980, c. 653; 1994, c. 25; 1997, c. 801; 1998, c. 117;2003, c. 195.)