55-543.01 - Representation; basic effect. - Virginia Statutes

§ 55-543.01. Representation; basic effect.

A. Notice to a person who may represent and bind another person under thischapter has the same effect as if notice were given directly to the otherperson.

B. The consent of a person who may represent and bind another person underthis chapter is binding on the person represented unless the personrepresented objects to the representation by notifying the trustee or therepresentative before the consent would otherwise have become effective.

C. Except as otherwise provided in §§ 55-544.11 and 55-546.02, a person whounder this chapter may represent a settlor who lacks capacity may receivenotice and give a binding consent on the settlor's behalf.

D. A settlor may not represent and bind a beneficiary under this chapter withrespect to the termination or modification of a trust under § 55-544.11.

(2005, c. 935.)