6.2-1076 - (Effective October 1, 2010) Operation and powers. - Virginia Statutes

§ 6.2-1076. (Effective October 1, 2010) Operation and powers.

Every private trust company shall have and shall conduct its business inaccordance with an operating plan and in accordance with generally acceptedfiduciary standards. A private trust company when engaging in a private trustbusiness shall have the same rights, powers, and privileges as a trustinstitution pursuant to § 6.2-1002, including the power to act as executorunder the last will and testament or administrator of the estate of anydeceased family member.

(2003, c. 910, § 6.1-32.30:3; 2010, c. 794.)