6.1-18 - (Repealed effective October 1, 2010) When security not required. - Virginia Statutes

§ 6.1-18. (Repealed effective October 1, 2010) When security not required.

No bank or trust company of this Commonwealth, with a minimum unimpairedcapital stock of $50,000 or more, shall be required by any officer or courtof this Commonwealth to give security upon appointment to or acceptance ofany office of trust which it may, by law, be authorized to execute or to givesecurity upon any bond given pursuant to § 4.1-341 or similar statute;provided, however, no bank or trust company shall qualify on an estate havinga value in excess of its combined unimpaired capital and surplus withoutgiving bond for such excess. When such bank or trust company shall qualifyon any office of trust, the clerk in lieu of collecting the fees under Title17.1 and probate taxes may render a bill or statement to such bank or trustcompany to be paid within five business days.

(Code 1950, § 6-95; 1966, c. 584; 1988, c. 348; 1993, c. 866.)