{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/6.2-1076.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/6.2-1076.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/6.2-1076.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/6.2-1076.html"}],"law_id":59929,"edition_id":1,"section_id":59929,"structure_id":15663,"section_number":"6.2-1076","catch_line":"Operation and powers","history":"2003, c. 910, \u00a7 6.1-32.30:3; 2010, c. 794.","full_text":"Every private trust company shall have and shall conduct its business in accordance with an operating plan and in accordance with generally accepted fiduciary standards. A private trust company when engaging in a private trust business shall have the same rights, powers, and privileges as a trust institution pursuant to \u00a7 6.2-1002, including the power to act as executor under the last will and testament or administrator of the estate of any deceased family member.","order_by":null,"text":{"0":{"id":219478,"text":"Every private trust company shall have and shall conduct its business in accordance with an operating plan and in accordance with generally accepted fiduciary standards. A private trust company when engaging in a private trust business shall have the same rights, powers, and privileges as a trust institution pursuant to \u00a7 6.2-1002, including the power to act as executor under the last will and testament or administrator of the estate of any deceased family member.","type":"section","prefixes":[""],"prefix":"","entire_prefix":"","prefix_anchor":"","level":1}},"ancestry":[{"id":15663,"edition_id":1,"name":"Private Trust Companies","identifier":"5","label":"article","depth":4,"order_by":1,"parent_id":13001,"metadata":{},"date_created":"2026-06-26 03:57:36","date_modified":"2026-06-26 03:57:36","permalink":{"id":263993,"object_type":"structure","relational_id":15663,"identifier":"5","token":"6.2\/II\/10\/5","url":"\/6.2\/II\/10\/5\/","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":60351,"structure_id":15663,"section_number":"6.2-1074","catch_line":"Definitions","url":"\/6.2-1074\/","token":"6.2\/II\/10\/5\/6.2-1074","metadata":false},{"id":75783,"structure_id":15663,"section_number":"6.2-1075","catch_line":"Organization; minimum capital; notice to Bureau; control","url":"\/6.2-1075\/","token":"6.2\/II\/10\/5\/6.2-1075","metadata":false},{"id":59929,"structure_id":15663,"section_number":"6.2-1076","catch_line":"Operation and powers","url":"\/6.2-1076\/","token":"6.2\/II\/10\/5\/6.2-1076","metadata":false},{"id":83696,"structure_id":15663,"section_number":"6.2-1077","catch_line":"Reacquisition of shares or interests; dividends","url":"\/6.2-1077\/","token":"6.2\/II\/10\/5\/6.2-1077","metadata":false},{"id":84978,"structure_id":15663,"section_number":"6.2-1078","catch_line":"Offices","url":"\/6.2-1078\/","token":"6.2\/II\/10\/5\/6.2-1078","metadata":false},{"id":81113,"structure_id":15663,"section_number":"6.2-1079","catch_line":"Directors or managers","url":"\/6.2-1079\/","token":"6.2\/II\/10\/5\/6.2-1079","metadata":false},{"id":76122,"structure_id":15663,"section_number":"6.2-1080","catch_line":"Limitation on powers","url":"\/6.2-1080\/","token":"6.2\/II\/10\/5\/6.2-1080","metadata":false}],"previous_section":{"id":75783,"structure_id":15663,"section_number":"6.2-1075","catch_line":"Organization; minimum capital; notice to Bureau; control","url":"\/6.2-1075\/","token":"6.2\/II\/10\/5\/6.2-1075","metadata":false},"next_section":{"id":83696,"structure_id":15663,"section_number":"6.2-1077","catch_line":"Reacquisition of shares or interests; dividends","url":"\/6.2-1077\/","token":"6.2\/II\/10\/5\/6.2-1077","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/6.2-1076\/","history_text":"

This law was first created in 2003. The record of its establishment is cataloged in chapter 910<\/a> of that year\u2019s edition of \u201cActs of Assembly,\u201d the annual state publication listing all changes made to the Code of Virginia in that year. It has been modified 1 time. 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. That modification is as follows: in 2010, chapter 794<\/a>.<\/p>","references":false,"refers_to":[{"id":58739,"section_number":"6.2-1002","catch_line":"Powers of trust institutions","order_by":null,"url":"\/6.2-1002\/"}],"permalink":{"id":264003,"object_type":"law","relational_id":59929,"identifier":"6.2-1076","token":"6.2\/II\/10\/5\/6.2-1076","url":"\/6.2-1076\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/6.2-1076\/","token":"6.2\/II\/10\/5\/6.2-1076","dublin_core":{"Title":"Operation and powers","Type":"Text","Format":"text\/html","Identifier":"\u00a7 6.2-1076","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

Every private trust company<\/span> shall have and shall conduct its business in accordance with an operating plan<\/span> and in accordance with generally accepted fiduciary<\/span> standards. A private trust company<\/span> when engaging in a private trust business<\/span> shall have the same rights, powers, and privileges<\/span> as a trust institution<\/span> pursuant to \u00a7 6.2-1002<\/a>, including the power to act as executor under the last will and testament or administrator of the estate of any deceased family member<\/span>.<\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nOPERATION AND POWERS (\u00a7 6.2-1076)\n\nEvery private trust company shall have and shall conduct its business in\naccordance with an operating plan and in accordance with generally accepted\nfiduciary standards. A private trust company when engaging in a private trust\nbusiness shall have the same rights, powers, and privileges as a trust\ninstitution pursuant to \u00a7 6.2-1002, including the power to act as executor\nunder the last will and testament or administrator of the estate of any deceased\nfamily member.\n\nHISTORY: 2003, c. 910, \u00a7 6.1-32.30:3; 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}}