{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/6.2-1003.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/6.2-1003.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/6.2-1003.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/6.2-1003.html"}],"law_id":75287,"edition_id":1,"section_id":75287,"structure_id":14860,"section_number":"6.2-1003","catch_line":"When security not required; payment of probate taxes and fees","history":"Code 1950, \u00a7 6-95; 1966, c. 584, \u00a7 6.1-18; 1988, c. 348; 1993, c. 866; 2010, c. 794; 2012, cc. 283, 756.","full_text":"A\n\nNo bank or trust company with a minimum unimpaired capital stock of $50,000 or more shall be required by any officer or court of the Commonwealth to (i) give security upon appointment to or acceptance of any office of trust which it may, by law, be authorized to execute or (ii) give security upon any bond given pursuant to § 19.2-386.6 or similar statute; however, no bank or trust company shall qualify on an estate having a value in excess of its combined unimpaired capital and surplus without giving bond for such excess.B\n\nWhen such bank or trust company shall qualify on any office of trust, the clerk in lieu of collecting the fees under Title 17.1 and probate taxes may render a bill or statement to the bank or trust company to be paid within five business days.","order_by":null,"text":{"0":{"id":270341,"text":"No bank or trust company with a minimum unimpaired capital stock of $50,000 or more shall be required by any officer or court of the Commonwealth to (i) give security upon appointment to or acceptance of any office of trust which it may, by law, be authorized to execute or (ii) give security upon any bond given pursuant to § 19.2-386.6 or similar statute; however, no bank or trust company shall qualify on an estate having a value in excess of its combined unimpaired capital and surplus without giving bond for such excess.","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"B"},"1":{"id":270342,"text":"When such bank or trust company shall qualify on any office of trust, the clerk in lieu of collecting the fees under Title 17.1 and probate taxes may render a bill or statement to the bank or trust company to be paid within five business days.","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A"}},"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":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},"next_section":{"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},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/6.2-1003\/","history_text":"

The record of this law\u2019s original creation isn\u2019t available online. It has been modified 5 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 1988, chapter 348; in 1993, chapter 866; in 2010, chapter 794<\/a>; in 2012, chapters 283<\/a> and 756<\/a>.<\/p>","references":[{"id":65923,"section_number":"6.2-1059","catch_line":"Substitution of subsidiary bank as fiduciary","order_by":null,"url":"\/6.2-1059\/"},{"id":64797,"section_number":"64.2-1400","catch_line":"Authority to qualify trustee; necessity for security; notice of qualification; qualification by less than all of trustees named","order_by":null,"url":"\/64.2-1400\/"},{"id":71191,"section_number":"64.2-1401","catch_line":"Jurisdiction for qualification of testamentary trustee; qualification and bond; when surety not required","order_by":null,"url":"\/64.2-1401\/"},{"id":73527,"section_number":"64.2-1411","catch_line":"When fiduciary may qualify without security; requirements for issuance of certificates of qualification; payments","order_by":null,"url":"\/64.2-1411\/"},{"id":75269,"section_number":"8.01-588.1","catch_line":"Bonds apportioned to funds under control; annual reports","order_by":null,"url":"\/8.01-588.1\/"}],"refers_to":[{"id":81018,"section_number":"19.2-386.6","catch_line":"Bond to secure possession","order_by":null,"url":"\/19.2-386.6\/"}],"permalink":{"id":263703,"object_type":"law","relational_id":75287,"identifier":"6.2-1003","token":"6.2\/II\/10\/1\/6.2-1003","url":"\/6.2-1003\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/6.2-1003\/","token":"6.2\/II\/10\/1\/6.2-1003","dublin_core":{"Title":"When security not required; payment of probate taxes and fees","Type":"Text","Format":"text\/html","Identifier":"\u00a7 6.2-1003","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

A.<\/span> No bank or trust company<\/span> with a minimum unimpaired capital stock of $50,000 or more shall be required by any officer or court<\/span> of the Commonwealth to (i) give security upon appointment to or acceptance of any office of trust which it may, by law<\/span>, be authorized to execute or (ii) give security upon any bond<\/span> given pursuant to § 19.2-386.6<\/a> or similar statute<\/span>; however, no bank or trust company<\/span> shall qualify on an estate having a value in excess of its combined unimpaired capital and surplus without giving bond<\/span> for such excess. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> When such bank or trust company<\/span> shall qualify on any office of trust, the clerk in lieu of collecting the fees under Title 17.1 and probate taxes may render a bill or statement to the bank or trust company<\/span> to be paid within five business days. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nWHEN SECURITY NOT REQUIRED; PAYMENT OF PROBATE TAXES AND FEES (\u00a7 6.2-1003)\n\nA. No bank or trust company with a minimum unimpaired capital stock of $50,000\nor more shall be required by any officer or court of the Commonwealth to (i)\ngive security upon appointment to or acceptance of any office of trust which it\nmay, by law, be authorized to execute or (ii) give security upon any bond given\npursuant to § 19.2-386.6 or similar statute; however, no bank or trust\ncompany shall qualify on an estate having a value in excess of its combined\nunimpaired capital and surplus without giving bond for such excess.\n\nB. When such bank or trust company shall qualify on any office of trust, the\nclerk in lieu of collecting the fees under Title 17.1 and probate taxes may\nrender a bill or statement to the bank or trust company to be paid within five\nbusiness days.\n\nHISTORY: Code 1950, \u00a7 6-95; 1966, c. 584, \u00a7 6.1-18; 1988, c. 348; 1993, c.\n866; 2010, c. 794; 2012, cc. 283, 756.","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}}