6.1-195.82 - (Repealed effective October 1, 2010) When security not required. - Virginia Statutes

§ 6.1-195.82. (Repealed effective October 1, 2010) When security not required.

No association with a minimum combined unimpaired capital and surplus of$50,000 or more shall be required by any officer or court of thisCommonwealth to give security upon appointment to or acceptance of anyfiduciary office which it may, by law, be authorized to execute, or to givesecurity upon any bond given pursuant to § 4.1-341 or similar statute.However, no association shall qualify on an estate having a value in excessof its combined unimpaired capital and surplus without giving security forsuch excess on its bond, unless the giving of such security is waived underthe terms of the governing instrument or by court order.

(1984, c. 303; 1993, c. 866.)