{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/6.2-1001.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/6.2-1001.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/6.2-1001.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/6.2-1001.html"}],"law_id":62570,"edition_id":1,"section_id":62570,"structure_id":14860,"section_number":"6.2-1001","catch_line":"Entities authorized to engage in trust business","history":"Code 1950, \u00a7 6-9; 1966, c. 584, \u00a7 6.1-5; 1974, c. 286, \u00a7 6.1-32.5; 1985, c. 544; 1995, c. 301; 1997, c. 801; 1999, c. 835; 2003, cc. 536, 558, 910; 2007, c. 621; 2010, c. 794; 2011, c. 67; 2012, c. 608.","full_text":"A\n\nNo entities, except (i) corporations duly chartered and already conducting trust business in the Commonwealth under authority of the laws of the Commonwealth or the United States, (ii) banks hereafter incorporated under the laws of the Commonwealth that are authorized to engage in the trust business through a separate trust department pursuant to Article 3 (§ 6.2-819 et seq.) of Chapter 8, (iii) corporations authorized to engage in the trust business in the Commonwealth under the banking laws of the United States, including any national bank or federal savings bank described in clause (ii) of subsection B of § 6.2-1067, (iv) trust companies authorized to establish and operate one or more trust offices or engage in trust business in the Commonwealth under Article 2 (§ 6.2-1013 et seq.), (v) trust subsidiaries authorized to engage in trust business under Article 3 (§ 6.2-1047 et seq.), (vi) multistate trust institutions authorized to engage in trust business under Article 4 (§ 6.2-1065 et seq.), (vii) private trust companies authorized to engage in trust business under Article 5 (§ 6.2-1074 et seq.), or (viii) savings institutions authorized to engage in the trust business pursuant to Article 6 (§ 6.2-1081 et seq.), shall engage in the trust business in the Commonwealth. No foreign corporation, except as permitted in Chapter 7 (§ 6.2-700 et seq.), shall engage in trust business in the Commonwealth.B\n\nNothing in this chapter shall prevent:1\n\nA natural person from qualifying and acting as trustee, personal representative, guardian, conservator, committee, or in any other fiduciary capacity;2\n\nAny person from (i) lending money on real estate and personal security or collateral, (ii) guaranteeing the payment of bonds, notes, bills and other obligations, or (iii) purchasing or selling stocks and bonds;3\n\nAny bank or trust company organized under the laws of the Commonwealth from qualifying and acting in another state as trustee, personal representative, guardian of a minor, conservator, or committee or in any other fiduciary capacity, when permitted so to do by the laws of such other state; or4\n\nAn incorporated association that is authorized to sell burial association group life insurance certificates in the Commonwealth, as described in the definition of limited burial insurance authority in § 38.2-1800, the principal purpose of which is to assist its members in (i) financial planning for their funerals and burials and (ii) obtaining insurance for the payment, in whole or in part, for funeral, burial, and related expenses, from serving as trustee of a trust established pursuant to § 54.1-2822.C\n\nNothing in this section shall be construed:1\n\nTo prevent any bank or trust company organized in the Commonwealth and chartered under the laws of the United States from transacting business in the Commonwealth; or2\n\nTo prevent a real estate broker as defined in § 54.1-2100 from owning or operating a bank provided that the requirements of this chapter are met.D\n\nExcept as permitted by this chapter or by Article 3 (§ 6.2-819 et seq.) of Chapter 8, or by federal law in the case of a national bank or federal savings bank described in clause (ii) of subsection B of § 6.2-1067, no entity shall qualify or act (i) as a personal representative of a deceased person; (ii) as a guardian for an infant or an incapacitated person; (iii) as a committee; (iv) as a conservator for an incapacitated person; (v) as a testamentary trustee, or trustee for any other trust if required by law to account to the commissioner of accounts of a circuit court in the Commonwealth; or (vi) in any other fiduciary capacity required to account to the commissioner of accounts of a circuit court in the Commonwealth.","order_by":null,"text":{"0":{"id":228161,"text":"No entities, except (i) corporations duly chartered and already conducting trust business in the Commonwealth under authority of the laws of the Commonwealth or the United States, (ii) banks hereafter incorporated under the laws of the Commonwealth that are authorized to engage in the trust business through a separate trust department pursuant to Article 3 (§ 6.2-819 et seq.) of Chapter 8, (iii) corporations authorized to engage in the trust business in the Commonwealth under the banking laws of the United States, including any national bank or federal savings bank described in clause (ii) of subsection B of § 6.2-1067, (iv) trust companies authorized to establish and operate one or more trust offices or engage in trust business in the Commonwealth under Article 2 (§ 6.2-1013 et seq.), (v) trust subsidiaries authorized to engage in trust business under Article 3 (§ 6.2-1047 et seq.), (vi) multistate trust institutions authorized to engage in trust business under Article 4 (§ 6.2-1065 et seq.), (vii) private trust companies authorized to engage in trust business under Article 5 (§ 6.2-1074 et seq.), or (viii) savings institutions authorized to engage in the trust business pursuant to Article 6 (§ 6.2-1081 et seq.), shall engage in the trust business in the Commonwealth. No foreign corporation, except as permitted in Chapter 7 (§ 6.2-700 et seq.), shall engage in trust business in the Commonwealth.","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"B"},"1":{"id":228162,"text":"Nothing in this chapter shall prevent:","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A","next_prefix":"B1"},"2":{"id":228163,"text":"A natural person from qualifying and acting as trustee, personal representative, guardian, conservator, committee, or in any other fiduciary capacity;","type":"section","prefixes":["B","1"],"prefix":"1","entire_prefix":"B1","prefix_anchor":"B1","level":2,"prior_prefix":"B","next_prefix":"B2"},"3":{"id":228164,"text":"Any person from (i) lending money on real estate and personal security or collateral, (ii) guaranteeing the payment of bonds, notes, bills and other obligations, or (iii) purchasing or selling stocks and bonds;","type":"section","prefixes":["B","2"],"prefix":"2","entire_prefix":"B2","prefix_anchor":"B2","level":2,"prior_prefix":"B1","next_prefix":"B3"},"4":{"id":228165,"text":"Any bank or trust company organized under the laws of the Commonwealth from qualifying and acting in another state as trustee, personal representative, guardian of a minor, conservator, or committee or in any other fiduciary capacity, when permitted so to do by the laws of such other state; or","type":"section","prefixes":["B","3"],"prefix":"3","entire_prefix":"B3","prefix_anchor":"B3","level":2,"prior_prefix":"B2","next_prefix":"B4"},"5":{"id":228166,"text":"An incorporated association that is authorized to sell burial association group life insurance certificates in the Commonwealth, as described in the definition of limited burial insurance authority in § 38.2-1800, the principal purpose of which is to assist its members in (i) financial planning for their funerals and burials and (ii) obtaining insurance for the payment, in whole or in part, for funeral, burial, and related expenses, from serving as trustee of a trust established pursuant to § 54.1-2822.","type":"section","prefixes":["B","4"],"prefix":"4","entire_prefix":"B4","prefix_anchor":"B4","level":2,"prior_prefix":"B3","next_prefix":"C"},"6":{"id":228167,"text":"Nothing in this section shall be construed:","type":"section","prefixes":["C"],"prefix":"C","entire_prefix":"C","prefix_anchor":"C","level":1,"prior_prefix":"B4","next_prefix":"C1"},"7":{"id":228168,"text":"To prevent any bank or trust company organized in the Commonwealth and chartered under the laws of the United States from transacting business in the Commonwealth; or","type":"section","prefixes":["C","1"],"prefix":"1","entire_prefix":"C1","prefix_anchor":"C1","level":2,"prior_prefix":"C","next_prefix":"C2"},"8":{"id":228169,"text":"To prevent a real estate broker as defined in § 54.1-2100 from owning or operating a bank provided that the requirements of this chapter are met.","type":"section","prefixes":["C","2"],"prefix":"2","entire_prefix":"C2","prefix_anchor":"C2","level":2,"prior_prefix":"C1","next_prefix":"D"},"9":{"id":228170,"text":"Except as permitted by this chapter or by Article 3 (§ 6.2-819 et seq.) of Chapter 8, or by federal law in the case of a national bank or federal savings bank described in clause (ii) of subsection B of § 6.2-1067, no entity shall qualify or act (i) as a personal representative of a deceased person; (ii) as a guardian for an infant or an incapacitated person; (iii) as a committee; (iv) as a conservator for an incapacitated person; (v) as a testamentary trustee, or trustee for any other trust if required by law to account to the commissioner of accounts of a circuit court in the Commonwealth; or (vi) in any other fiduciary capacity required to account to the commissioner of accounts of a circuit court in the Commonwealth.","type":"section","prefixes":["D"],"prefix":"D","entire_prefix":"D","prefix_anchor":"D","level":1,"prior_prefix":"C2"}},"ancestry":[{"id":14860,"edition_id":1,"name":"Trust Powers and Trust Business","identifier":"1","label":"article","depth":4,"order_by":1,"parent_id":13001,"metadata":{},"date_created":"2026-06-26 03:50:27","date_modified":"2026-06-26 03:50:27","permalink":{"id":263689,"object_type":"structure","relational_id":14860,"identifier":"1","token":"6.2\/II\/10\/1","url":"\/6.2\/II\/10\/1\/","edition_id":1,"permalink":0,"preferred":1}},{"id":13001,"edition_id":1,"name":"Entities Conducting Trust Business","identifier":"10","label":"chapter","depth":3,"order_by":1,"parent_id":13000,"metadata":{},"date_created":"2026-06-26 03:44:07","date_modified":"2026-06-26 03:44:07","permalink":{"id":263687,"object_type":"structure","relational_id":13001,"identifier":"10","token":"6.2\/II\/10","url":"\/6.2\/II\/10\/","edition_id":1,"permalink":0,"preferred":1}},{"id":13000,"edition_id":1,"name":"Depository Institutions and Trust Organizations","identifier":"II","label":"subtitle","depth":2,"order_by":1,"parent_id":12852,"metadata":{},"date_created":"2026-06-26 03:44:07","date_modified":"2026-06-26 03:44:07","permalink":{"id":263685,"object_type":"structure","relational_id":13000,"identifier":"II","token":"6.2\/II","url":"\/6.2\/II\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12852,"edition_id":1,"name":"Financial Institutions and Services","identifier":"6.2","label":"title","depth":1,"order_by":1,"parent_id":null,"metadata":{},"date_created":"2026-06-26 03:43:56","date_modified":"2026-06-26 03:43:56","permalink":{"id":263249,"object_type":"structure","relational_id":12852,"identifier":"6.2","token":"6.2","url":"\/6.2\/","edition_id":1,"permalink":0,"preferred":1}}],"structure_contents":[{"id":61391,"structure_id":14860,"section_number":"6.2-1000","catch_line":"Definitions","url":"\/6.2-1000\/","token":"6.2\/II\/10\/1\/6.2-1000","metadata":false},{"id":62570,"structure_id":14860,"section_number":"6.2-1001","catch_line":"Entities authorized to engage in trust business","url":"\/6.2-1001\/","token":"6.2\/II\/10\/1\/6.2-1001","metadata":false},{"id":58739,"structure_id":14860,"section_number":"6.2-1002","catch_line":"Powers of trust institutions","url":"\/6.2-1002\/","token":"6.2\/II\/10\/1\/6.2-1002","metadata":false},{"id":75287,"structure_id":14860,"section_number":"6.2-1003","catch_line":"When security not required; payment of probate taxes and fees","url":"\/6.2-1003\/","token":"6.2\/II\/10\/1\/6.2-1003","metadata":false},{"id":63080,"structure_id":14860,"section_number":"6.2-1004","catch_line":"Who may take oath for corporate fiduciary","url":"\/6.2-1004\/","token":"6.2\/II\/10\/1\/6.2-1004","metadata":false},{"id":86464,"structure_id":14860,"section_number":"6.2-1005","catch_line":"Deposit or other use of trust funds","url":"\/6.2-1005\/","token":"6.2\/II\/10\/1\/6.2-1005","metadata":false},{"id":63490,"structure_id":14860,"section_number":"6.2-1006","catch_line":"Custody of trust securities to be kept separate; federal securities and obligations","url":"\/6.2-1006\/","token":"6.2\/II\/10\/1\/6.2-1006","metadata":false},{"id":56787,"structure_id":14860,"section_number":"6.2-1007","catch_line":"Investment of trust funds","url":"\/6.2-1007\/","token":"6.2\/II\/10\/1\/6.2-1007","metadata":false},{"id":75720,"structure_id":14860,"section_number":"6.2-1008","catch_line":"Dealings with self or affiliates","url":"\/6.2-1008\/","token":"6.2\/II\/10\/1\/6.2-1008","metadata":false},{"id":83711,"structure_id":14860,"section_number":"6.2-1009","catch_line":"Common trust and collective investment funds","url":"\/6.2-1009\/","token":"6.2\/II\/10\/1\/6.2-1009","metadata":false},{"id":75450,"structure_id":14860,"section_number":"6.2-1010","catch_line":"Holding stock or other securities as fiduciary","url":"\/6.2-1010\/","token":"6.2\/II\/10\/1\/6.2-1010","metadata":false},{"id":57294,"structure_id":14860,"section_number":"6.2-1011","catch_line":"Voting of bank shares held by trust institution as fiduciary; when disqualified","url":"\/6.2-1011\/","token":"6.2\/II\/10\/1\/6.2-1011","metadata":false},{"id":82343,"structure_id":14860,"section_number":"6.2-1012","catch_line":"Suspension or prohibition of trust institutions","url":"\/6.2-1012\/","token":"6.2\/II\/10\/1\/6.2-1012","metadata":false}],"previous_section":{"id":61391,"structure_id":14860,"section_number":"6.2-1000","catch_line":"Definitions","url":"\/6.2-1000\/","token":"6.2\/II\/10\/1\/6.2-1000","metadata":false},"next_section":{"id":58739,"structure_id":14860,"section_number":"6.2-1002","catch_line":"Powers of trust institutions","url":"\/6.2-1002\/","token":"6.2\/II\/10\/1\/6.2-1002","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/6.2-1001\/","history_text":"

The record of this law\u2019s original creation isn\u2019t available online. It has been modified 11 times. Those modifications are cataloged by \u201cThe Acts of Assembly,\u201d a state publication, by year and chapter. Those modifications that can be read on the General Assembly\u2019s website will be linked accordingly. Those modifications are as follows: in 1966, chapter 584; in 1974, chapter 286; in 1985, chapter 544; in 1995, chapter 301<\/a>; in 1997, chapter 801<\/a>; in 1999, chapter 835<\/a>; in 2003, chapters 536<\/a>, 558<\/a>, and 910<\/a>; in 2007, chapter 621<\/a>; in 2010, chapter 794<\/a>; in 2011, chapter 67<\/a>; in 2012, chapter 608<\/a>.<\/p>","references":[{"id":81213,"section_number":"55.1-117","catch_line":"Land trusts not to fail because no beneficiaries are specified by name and no duties laid on trustee; when interest of beneficiaries deemed personal property; liens","order_by":null,"url":"\/55.1-117\/"}],"refers_to":[{"id":67482,"section_number":"38.2-1800","catch_line":"Definitions","order_by":null,"url":"\/38.2-1800\/"},{"id":74059,"section_number":"54.1-2100","catch_line":"Definitions","order_by":null,"url":"\/54.1-2100\/"},{"id":64748,"section_number":"6.2-1013","catch_line":"Definitions","order_by":null,"url":"\/6.2-1013\/"},{"id":65489,"section_number":"6.2-1047","catch_line":"Definitions","order_by":null,"url":"\/6.2-1047\/"},{"id":70604,"section_number":"6.2-1065","catch_line":"Definitions","order_by":null,"url":"\/6.2-1065\/"},{"id":71982,"section_number":"6.2-1067","catch_line":"Trust business of out-of-state trust institution","order_by":null,"url":"\/6.2-1067\/"},{"id":60351,"section_number":"6.2-1074","catch_line":"Definitions","order_by":null,"url":"\/6.2-1074\/"},{"id":74058,"section_number":"6.2-1081","catch_line":"Definitions","order_by":null,"url":"\/6.2-1081\/"},{"id":75055,"section_number":"6.2-700","catch_line":"Definitions","order_by":null,"url":"\/6.2-700\/"},{"id":85620,"section_number":"6.2-819","catch_line":"Authority to engage in trust business; permission of Commission required","order_by":null,"url":"\/6.2-819\/"}],"permalink":{"id":263695,"object_type":"law","relational_id":62570,"identifier":"6.2-1001","token":"6.2\/II\/10\/1\/6.2-1001","url":"\/6.2-1001\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/6.2-1001\/","token":"6.2\/II\/10\/1\/6.2-1001","dublin_core":{"Title":"Entities authorized to engage in trust business","Type":"Text","Format":"text\/html","Identifier":"\u00a7 6.2-1001","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

A.<\/span> No entities, except (i) corporations duly chartered and already conducting trust business<\/span> in the Commonwealth under authority of the laws<\/span> of the Commonwealth or the United States, (ii) banks hereafter incorporated under the laws<\/span> of the Commonwealth that are authorized to engage in the trust business<\/span> through a separate trust department pursuant to Article 3 (§ 6.2-819<\/a> et seq.) of Chapter 8, (iii) corporations authorized to engage in the trust business<\/span> in the Commonwealth under the banking laws<\/span> of the United States, including any national bank or federal savings bank described in clause (ii) of subsection B of § 6.2-1067<\/a>, (iv) trust companies authorized to establish and operate one or more trust offices or engage in trust business<\/span> in the Commonwealth under Article 2 (§ 6.2-1013<\/a> et seq.), (v) trust subsidiaries authorized to engage in trust business<\/span> under Article 3 (§ 6.2-1047<\/a> et seq.), (vi) multistate trust institutions<\/span> authorized to engage in trust business<\/span> under Article 4 (§ 6.2-1065<\/a> et seq.), (vii) private trust companies authorized to engage in trust business<\/span> under Article 5 (§ 6.2-1074<\/a> et seq.), or (viii) savings institutions authorized to engage in the trust business<\/span> pursuant to Article 6 (§ 6.2-1081<\/a> et seq.), shall engage in the trust business<\/span> in the Commonwealth. No foreign corporation, except as permitted in Chapter 7 (§ 6.2-700<\/a> et seq.), shall engage in trust business<\/span> in the Commonwealth. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> Nothing in this chapter shall prevent: <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

1.<\/span> A natural person<\/span> from qualifying and acting as trustee, personal representative, guardian, conservator, committee, or in any other fiduciary capacity; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

2.<\/span> Any person<\/span> from (i) lending money on real estate and personal security or collateral<\/span>, (ii) guaranteeing the payment of bonds<\/span>, notes, bills and other obligations, or (iii) purchasing or selling stocks and bonds<\/span>; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

3.<\/span> Any bank or trust company<\/span> organized under the laws<\/span> of the Commonwealth from qualifying and acting in another state as trustee, personal representative, guardian of a minor<\/span>, conservator, or committee or in any other fiduciary capacity, when permitted so to do by the laws<\/span> of such other state; or <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

4.<\/span> An incorporated association that is authorized to sell burial association group life insurance certificates in the Commonwealth, as described in the definition of limited burial insurance authority in § 38.2-1800<\/a>, the principal purpose of which is to assist its members in (i) financial planning for their funerals and burials and (ii) obtaining insurance for the payment, in whole or in part, for funeral, burial, and related expenses, from serving as trustee of a trust established pursuant to § 54.1-2822<\/a>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

C.<\/span> Nothing in this section shall be construed: <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

1.<\/span> To prevent any bank or trust company<\/span> organized in the Commonwealth and chartered under the laws<\/span> of the United States from transacting business in the Commonwealth; or <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

2.<\/span> To prevent a real estate broker as defined in § 54.1-2100<\/a> from owning or operating a bank provided that the requirements of this chapter are met. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

D.<\/span> Except as permitted by this chapter or by Article 3 (§ 6.2-819<\/a> et seq.) of Chapter 8, or by federal law<\/span> in the case of a national bank or federal savings bank described in clause (ii) of subsection B of § 6.2-1067<\/a>, no entity<\/span> shall qualify or act (i) as a personal representative of a deceased person<\/span>; (ii) as a guardian for an infant or an incapacitated person<\/span>; (iii) as a committee; (iv) as a conservator for an incapacitated person<\/span>; (v) as a testamentary trustee, or trustee for any other trust if required by law<\/span> to account to the commissioner<\/span> of accounts of a circuit<\/span> court<\/span> in the Commonwealth; or (vi) in any other fiduciary capacity required to account to the commissioner<\/span> of accounts of a circuit<\/span> court<\/span> in the Commonwealth. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nENTITIES AUTHORIZED TO ENGAGE IN TRUST BUSINESS (\u00a7 6.2-1001)\n\nA. No entities, except (i) corporations duly chartered and already conducting\ntrust business in the Commonwealth under authority of the laws of the\nCommonwealth or the United States, (ii) banks hereafter incorporated under the\nlaws of the Commonwealth that are authorized to engage in the trust business\nthrough a separate trust department pursuant to Article 3 (§ 6.2-819 et\nseq.) of Chapter 8, (iii) corporations authorized to engage in the trust\nbusiness in the Commonwealth under the banking laws of the United States,\nincluding any national bank or federal savings bank described in clause (ii) of\nsubsection B of § 6.2-1067, (iv) trust companies authorized to establish\nand operate one or more trust offices or engage in trust business in the\nCommonwealth under Article 2 (§ 6.2-1013 et seq.), (v) trust subsidiaries\nauthorized to engage in trust business under Article 3 (§ 6.2-1047 et\nseq.), (vi) multistate trust institutions authorized to engage in trust business\nunder Article 4 (§ 6.2-1065 et seq.), (vii) private trust companies\nauthorized to engage in trust business under Article 5 (§ 6.2-1074 et\nseq.), or (viii) savings institutions authorized to engage in the trust business\npursuant to Article 6 (§ 6.2-1081 et seq.), shall engage in the trust\nbusiness in the Commonwealth. No foreign corporation, except as permitted in\nChapter 7 (§ 6.2-700 et seq.), shall engage in trust business in the\nCommonwealth.\n\nB. Nothing in this chapter shall prevent:\n\n 1. A natural person from qualifying and acting as trustee, personal\n representative, guardian, conservator, committee, or in any other fiduciary\n capacity;\n\n 2. Any person from (i) lending money on real estate and personal security or\n collateral, (ii) guaranteeing the payment of bonds, notes, bills and other\n obligations, or (iii) purchasing or selling stocks and bonds;\n\n 3. Any bank or trust company organized under the laws of the Commonwealth from\n qualifying and acting in another state as trustee, personal representative,\n guardian of a minor, conservator, or committee or in any other fiduciary\n capacity, when permitted so to do by the laws of such other state; or\n\n 4. An incorporated association that is authorized to sell burial association\n group life insurance certificates in the Commonwealth, as described in the\n definition of limited burial insurance authority in § 38.2-1800, the\n principal purpose of which is to assist its members in (i) financial planning\n for their funerals and burials and (ii) obtaining insurance for the payment,\n in whole or in part, for funeral, burial, and related expenses, from serving\n as trustee of a trust established pursuant to § 54.1-2822.\n\nC. Nothing in this section shall be construed:\n\n 1. To prevent any bank or trust company organized in the Commonwealth and\n chartered under the laws of the United States from transacting business in the\n Commonwealth; or\n\n 2. To prevent a real estate broker as defined in § 54.1-2100 from owning\n or operating a bank provided that the requirements of this chapter are met.\n\nD. Except as permitted by this chapter or by Article 3 (§ 6.2-819 et seq.)\nof Chapter 8, or by federal law in the case of a national bank or federal\nsavings bank described in clause (ii) of subsection B of § 6.2-1067, no\nentity shall qualify or act (i) as a personal representative of a deceased\nperson; (ii) as a guardian for an infant or an incapacitated person; (iii) as a\ncommittee; (iv) as a conservator for an incapacitated person; (v) as a\ntestamentary trustee, or trustee for any other trust if required by law to\naccount to the commissioner of accounts of a circuit court in the Commonwealth;\nor (vi) in any other fiduciary capacity required to account to the commissioner\nof accounts of a circuit court in the Commonwealth.\n\nHISTORY: Code 1950, \u00a7 6-9; 1966, c. 584, \u00a7 6.1-5; 1974, c. 286, \u00a7 6.1-32.5;\n1985, c. 544; 1995, c. 301; 1997, c. 801; 1999, c. 835; 2003, cc. 536, 558, 910;\n2007, c. 621; 2010, c. 794; 2011, c. 67; 2012, c. 608.","edition":{"id":1,"name":"2025","slug":"2025","date_created":"2026-06-21 22:39:22","date_modified":"2026-06-21 22:39:22","current":1,"order_by":1,"last_import":null}}