6.2-1093 - (Effective October 1, 2010) Custody of assets and investments held in trust. - Virginia Statutes

§ 6.2-1093. (Effective October 1, 2010) Custody of assets and investmentsheld in trust.

A. The assets and investments of each trust account shall be kept separatefrom the assets of the association and shall be placed in the joint custodyor control of not fewer than two of the officers or employees of theassociation designated for that purpose by the board of directors of theassociation. All such officers and employees shall be adequately bonded.

B. The assets and investments of each trust account shall be either keptseparate from those of all other trust accounts, except as provided in §6.2-1095, or otherwise adequately identified as the property of the relevantaccount.

(1984, c. 303, § 6.1-195.90; 2010, c. 794.)