64.1-178 - When fiduciaries are protected by refunding bonds. - Virginia Statutes

§ 64.1-178. When fiduciaries are protected by refunding bonds.

If any personal representative pay any legacy given by the will or distributeany of the estate of his decedent and there be filed in the proper clerk'soffice a proper refunding bond for what is so paid or distributed, withsecurity therein sufficient at the time of taking it, such personalrepresentative shall not, on account of what is so paid or distributed, bepersonally liable for any debt or demand against the decedent, whether it beof record or not, unless, within six months from his qualification or beforesuch payment or distribution, he shall have had notice of such debt ordemand; but if any creditor of the decedent thereafter establish his debt ordemand by judgment or decree therefor or by its being allowed in acommissioner's report which is confirmed, a suit may be maintained on suchrefunding bond, in the name of the obligee, or his personal representative,for the benefit of such creditor, and a recovery shall be had thereon to thesame extent that would have been had if such obligee or his personalrepresentative had satisfied such debt or demand.

(Code 1950, § 64-168; 1968, c. 656.)