6.1-195.90 - (Repealed effective October 1, 2010) Custody of assets and investments held in trust. - Virginia Statutes

§ 6.1-195.90. (Repealed effective October 1, 2010) Custody of assets andinvestments held in trust.

The assets and investments of each trust account shall be kept separate fromthe assets of the association, and shall be placed in the joint custody orcontrol of not fewer than two of the officers or employees of the associationdesignated for that purpose by the board of directors of the association. Allsuch officers and employees shall be adequately bonded.

The assets and investments of each trust account shall be either keptseparate from those of all other trust accounts, except as provided in §6.1-195.92, or otherwise adequately identified as the property of therelevant account.

(1984, c. 303.)