54.1-2337 - Transfer of trust funds to another trustee. - Virginia Statutes

§ 54.1-2337. Transfer of trust funds to another trustee.

The seller may, upon notification in writing to the trustee, and upon suchother terms and conditions as the agreement between them may specify,transfer its account funds to another trustee qualified under the provisionsof this chapter. The trustee may, upon notification in writing to the seller,and upon such other terms and conditions as the agreement between them mayspecify, transfer the trust funds to another trustee qualified under theprovisions of this chapter. No seller's account funds or trustee's trustfunds may be transferred to another trustee unless the seller provideswritten notice at least five days prior to such transfer to the Board.

(1998, cc. 708, 721.)