{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/6.2-1006.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/6.2-1006.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/6.2-1006.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/6.2-1006.html"}],"law_id":63490,"edition_id":1,"section_id":63490,"structure_id":14860,"section_number":"6.2-1006","catch_line":"Custody of trust securities to be kept separate; federal securities and obligations","history":"Code 1950, \u00a7 6-100; 1966, c. 584, \u00a7 6.1-22; 1968, c. 59; 1974, cc. 75, 665; 2010, c. 794.","full_text":"A\n\nThe securities and investments held in each trust shall be kept separate and distinct from the securities owned by the trust institution. The trust institution shall at all times show upon its trust records the interests of each separate fiduciary account and trust in each particular security or investment held by it in a fiduciary capacity. Trust securities and investments shall be placed in the joint custody or control of two or more officers or other employees designated by the board of directors of the trust institution. Such joint custody shall be interpreted to mean that neither of such officers or employees shall have access alone at any time to such securities and investments. All such officers and employees shall be bonded.B\n\nSecurities and obligations of the United States and of agencies of the United States government may be held for the account of the trust institution by a Federal Reserve Bank in a book-entry custody account, without the requirement of the trust institution having physical possession of such securities, provided at all times that the records of the Federal Reserve Bank and the trust institution shall at all times identify separately those securities held for the account of the trust institution and those held by the trust institution in a fiduciary capacity.","order_by":null,"text":{"0":{"id":231300,"text":"The securities and investments held in each trust shall be kept separate and distinct from the securities owned by the trust institution. The trust institution shall at all times show upon its trust records the interests of each separate fiduciary account and trust in each particular security or investment held by it in a fiduciary capacity. Trust securities and investments shall be placed in the joint custody or control of two or more officers or other employees designated by the board of directors of the trust institution. Such joint custody shall be interpreted to mean that neither of such officers or employees shall have access alone at any time to such securities and investments. All such officers and employees shall be bonded.","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"B"},"1":{"id":231301,"text":"Securities and obligations of the United States and of agencies of the United States government may be held for the account of the trust institution by a Federal Reserve Bank in a book-entry custody account, without the requirement of the trust institution having physical possession of such securities, provided at all times that the records of the Federal Reserve Bank and the trust institution shall at all times identify separately those securities held for the account of the trust institution and those held by the trust institution in a fiduciary capacity.","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":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},"next_section":{"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},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/6.2-1006\/","history_text":"

The record of this law\u2019s original creation isn\u2019t available online. It has been modified 4 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 1968, chapter 59; in 1974, chapters 75 and 665; in 2010, chapter 794<\/a>.<\/p>","references":[{"id":82343,"section_number":"6.2-1012","catch_line":"Suspension or prohibition of trust institutions","order_by":null,"url":"\/6.2-1012\/"}],"refers_to":false,"permalink":{"id":263715,"object_type":"law","relational_id":63490,"identifier":"6.2-1006","token":"6.2\/II\/10\/1\/6.2-1006","url":"\/6.2-1006\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/6.2-1006\/","token":"6.2\/II\/10\/1\/6.2-1006","dublin_core":{"Title":"Custody of trust securities to be kept separate; federal securities and obligations","Type":"Text","Format":"text\/html","Identifier":"\u00a7 6.2-1006","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

A.<\/span> The securities and investments held in each trust shall be kept separate and distinct from the securities owned by the trust institution<\/span>. The trust institution<\/span> shall at all times show upon its trust records the interests of each separate fiduciary account and trust in each particular security or investment held by it in a fiduciary capacity. Trust securities and investments shall be placed in the joint custody<\/span> or control of two or more officers or other employees designated by the board of directors of the trust institution<\/span>. Such joint custody<\/span> shall be interpreted to mean that neither of such officers or employees shall have access alone at any time to such securities and investments. All such officers and employees shall be bonded. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> Securities and obligations of the United States and of agencies of the United States government may be held for the account of the trust institution<\/span> by a Federal Reserve Bank in a book-entry custody<\/span> account, without the requirement of the trust institution<\/span> having physical possession<\/span> of such securities, provided at all times that the records of the Federal Reserve Bank and the trust institution<\/span> shall at all times identify separately those securities held for the account of the trust institution<\/span> and those held by the trust institution<\/span> in a fiduciary capacity. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nCUSTODY OF TRUST SECURITIES TO BE KEPT SEPARATE; FEDERAL SECURITIES AND\nOBLIGATIONS (\u00a7 6.2-1006)\n\nA. The securities and investments held in each trust shall be kept separate and\ndistinct from the securities owned by the trust institution. The trust\ninstitution shall at all times show upon its trust records the interests of each\nseparate fiduciary account and trust in each particular security or investment\nheld by it in a fiduciary capacity. Trust securities and investments shall be\nplaced in the joint custody or control of two or more officers or other\nemployees designated by the board of directors of the trust institution. Such\njoint custody shall be interpreted to mean that neither of such officers or\nemployees shall have access alone at any time to such securities and\ninvestments. All such officers and employees shall be bonded.\n\nB. Securities and obligations of the United States and of agencies of the United\nStates government may be held for the account of the trust institution by a\nFederal Reserve Bank in a book-entry custody account, without the requirement of\nthe trust institution having physical possession of such securities, provided at\nall times that the records of the Federal Reserve Bank and the trust institution\nshall at all times identify separately those securities held for the account of\nthe trust institution and those held by the trust institution in a fiduciary\ncapacity.\n\nHISTORY: Code 1950, \u00a7 6-100; 1966, c. 584, \u00a7 6.1-22; 1968, c. 59; 1974, cc.\n75, 665; 2010, c. 794.","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}}