{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/6.2-1093.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/6.2-1093.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/6.2-1093.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/6.2-1093.html"}],"law_id":86273,"edition_id":1,"section_id":86273,"structure_id":13492,"section_number":"6.2-1093","catch_line":"Custody of assets and investments held in trust","history":"1984, c. 303, \u00a7 6.1-195.90; 2010, c. 794.","full_text":"A\n\nThe assets and investments of each trust account shall be kept separate from the assets of the association and shall be placed in the joint custody or control of not fewer than two of the officers or employees of the association designated for that purpose by the board of directors of the association. All such officers and employees shall be adequately bonded.B\n\nThe assets and investments of each trust account shall be either kept separate from those of all other trust accounts, except as provided in § 6.2-1095, or otherwise adequately identified as the property of the relevant account.","order_by":null,"text":{"0":{"id":308986,"text":"The assets and investments of each trust account shall be kept separate from the assets of the association and shall be placed in the joint custody or control of not fewer than two of the officers or employees of the association designated for that purpose by the board of directors of the association. All such officers and employees shall be adequately bonded.","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"B"},"1":{"id":308987,"text":"The assets and investments of each trust account shall be either kept separate from those of all other trust accounts, except as provided in § 6.2-1095, or otherwise adequately identified as the property of the relevant account.","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A"}},"ancestry":[{"id":13492,"edition_id":1,"name":"Trust Powers of Savings Institutions","identifier":"6","label":"article","depth":4,"order_by":1,"parent_id":13001,"metadata":{},"date_created":"2026-06-26 03:45:02","date_modified":"2026-06-26 03:45:02","permalink":{"id":264023,"object_type":"structure","relational_id":13492,"identifier":"6","token":"6.2\/II\/10\/6","url":"\/6.2\/II\/10\/6\/","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":74058,"structure_id":13492,"section_number":"6.2-1081","catch_line":"Definitions","url":"\/6.2-1081\/","token":"6.2\/II\/10\/6\/6.2-1081","metadata":false},{"id":85239,"structure_id":13492,"section_number":"6.2-1082","catch_line":"Applications for permission to offer trust services","url":"\/6.2-1082\/","token":"6.2\/II\/10\/6\/6.2-1082","metadata":false},{"id":54455,"structure_id":13492,"section_number":"6.2-1083","catch_line":"Commission to issue certificate; powers of associations authorized to offer trust services","url":"\/6.2-1083\/","token":"6.2\/II\/10\/6\/6.2-1083","metadata":false},{"id":54639,"structure_id":13492,"section_number":"6.2-1084","catch_line":"Continuation of trust powers in the event of consolidation or merger of two or more associations","url":"\/6.2-1084\/","token":"6.2\/II\/10\/6\/6.2-1084","metadata":false},{"id":79631,"structure_id":13492,"section_number":"6.2-1085","catch_line":"When security not required","url":"\/6.2-1085\/","token":"6.2\/II\/10\/6\/6.2-1085","metadata":false},{"id":64036,"structure_id":13492,"section_number":"6.2-1086","catch_line":"Association's operation and supervision of trust department","url":"\/6.2-1086\/","token":"6.2\/II\/10\/6\/6.2-1086","metadata":false},{"id":54952,"structure_id":13492,"section_number":"6.2-1087","catch_line":"Books and accounts","url":"\/6.2-1087\/","token":"6.2\/II\/10\/6\/6.2-1087","metadata":false},{"id":67325,"structure_id":13492,"section_number":"6.2-1088","catch_line":"Investment of funds and assets held as fiduciary","url":"\/6.2-1088\/","token":"6.2\/II\/10\/6\/6.2-1088","metadata":false},{"id":71432,"structure_id":13492,"section_number":"6.2-1089","catch_line":"Funds awaiting investment or distribution","url":"\/6.2-1089\/","token":"6.2\/II\/10\/6\/6.2-1089","metadata":false},{"id":68351,"structure_id":13492,"section_number":"6.2-1090","catch_line":"Dealings with self or affiliates","url":"\/6.2-1090\/","token":"6.2\/II\/10\/6\/6.2-1090","metadata":false},{"id":68482,"structure_id":13492,"section_number":"6.2-1091","catch_line":"Voting of financial institution stock held by association as fiduciary; when association disqualified from voting","url":"\/6.2-1091\/","token":"6.2\/II\/10\/6\/6.2-1091","metadata":false},{"id":60816,"structure_id":13492,"section_number":"6.2-1092","catch_line":"Transactions between trust accounts","url":"\/6.2-1092\/","token":"6.2\/II\/10\/6\/6.2-1092","metadata":false},{"id":86273,"structure_id":13492,"section_number":"6.2-1093","catch_line":"Custody of assets and investments held in trust","url":"\/6.2-1093\/","token":"6.2\/II\/10\/6\/6.2-1093","metadata":false},{"id":64599,"structure_id":13492,"section_number":"6.2-1094","catch_line":"Establishment of common trust funds and collective investment funds; court accountings","url":"\/6.2-1094\/","token":"6.2\/II\/10\/6\/6.2-1094","metadata":false},{"id":82368,"structure_id":13492,"section_number":"6.2-1095","catch_line":"Compensation of association acting as fiduciary","url":"\/6.2-1095\/","token":"6.2\/II\/10\/6\/6.2-1095","metadata":false},{"id":86157,"structure_id":13492,"section_number":"6.2-1096","catch_line":"Surrender of trust powers by association","url":"\/6.2-1096\/","token":"6.2\/II\/10\/6\/6.2-1096","metadata":false},{"id":79251,"structure_id":13492,"section_number":"6.2-1097","catch_line":"Effect on trust accounts of appointment of receiver for association or of voluntary dissolution of association","url":"\/6.2-1097\/","token":"6.2\/II\/10\/6\/6.2-1097","metadata":false},{"id":55409,"structure_id":13492,"section_number":"6.2-1098","catch_line":"Revocation of trust powers","url":"\/6.2-1098\/","token":"6.2\/II\/10\/6\/6.2-1098","metadata":false},{"id":71645,"structure_id":13492,"section_number":"6.2-1099","catch_line":"Trust powers of state savings banks","url":"\/6.2-1099\/","token":"6.2\/II\/10\/6\/6.2-1099","metadata":false}],"previous_section":{"id":60816,"structure_id":13492,"section_number":"6.2-1092","catch_line":"Transactions between trust accounts","url":"\/6.2-1092\/","token":"6.2\/II\/10\/6\/6.2-1092","metadata":false},"next_section":{"id":64599,"structure_id":13492,"section_number":"6.2-1094","catch_line":"Establishment of common trust funds and collective investment funds; court accountings","url":"\/6.2-1094\/","token":"6.2\/II\/10\/6\/6.2-1094","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/6.2-1093\/","history_text":"

This law was first created in 1984. The record of its establishment is cataloged in chapter 303 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. Unfortunately, the 1984 \u201cActs\u201d aren\u2019t available online. 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":82368,"section_number":"6.2-1095","catch_line":"Compensation of association acting as fiduciary","order_by":null,"url":"\/6.2-1095\/"}],"permalink":{"id":264073,"object_type":"law","relational_id":86273,"identifier":"6.2-1093","token":"6.2\/II\/10\/6\/6.2-1093","url":"\/6.2-1093\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/6.2-1093\/","token":"6.2\/II\/10\/6\/6.2-1093","dublin_core":{"Title":"Custody of assets and investments held in trust","Type":"Text","Format":"text\/html","Identifier":"\u00a7 6.2-1093","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

A.<\/span> The assets<\/span> and investments of each trust account<\/span> shall be kept separate from the assets<\/span> of the association and shall be placed in the joint custody<\/span> or control of not fewer than two of the officers or employees of the association designated for that purpose by the board of directors of the association. All such officers and employees shall be adequately bonded. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> The assets<\/span> and investments of each trust account<\/span> shall be either kept separate from those of all other trust accounts<\/span>, except as provided in § 6.2-1095<\/a>, or otherwise adequately identified as the property of the relevant account. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nCUSTODY OF ASSETS AND INVESTMENTS HELD IN TRUST (\u00a7 6.2-1093)\n\nA. The assets and investments of each trust account shall be kept separate from\nthe assets of the association and shall be placed in the joint custody or\ncontrol of not fewer than two of the officers or employees of the association\ndesignated for that purpose by the board of directors of the association. All\nsuch officers and employees shall be adequately bonded.\n\nB. The assets and investments of each trust account shall be either kept\nseparate from those of all other trust accounts, except as provided in §\n6.2-1095, or otherwise adequately identified as the property of the relevant\naccount.\n\nHISTORY: 1984, c. 303, \u00a7 6.1-195.90; 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}}