{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/64.2-1501.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/64.2-1501.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/64.2-1501.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/64.2-1501.html"}],"law_id":65653,"edition_id":1,"section_id":65653,"structure_id":14225,"section_number":"64.2-1501","catch_line":"Time within which guardian of an estate, conservator, or other fiduciary to invest funds; reasonable diligence required","history":"Code 1919, \u00a7 5325; 1938, p. 203; 1946, p. 223; Code 1950, \u00a7 26-39; 1997, c. 842; 1999, c. 772; 2012, c. 614.","full_text":"A\n\nWhenever a guardian of an estate, conservator, or other fiduciary charged with the investment of funds collects any principal, he shall have a reasonable time, not to exceed four months, to invest or loan the funds and shall not be charged with interest thereon until the expiration of such time. A guardian of an estate, conservator, or any other fiduciary shall only be required to invest in accordance with the provisions of §§ 64.2-1502 through 64.2-1506 and the Uniform Prudent Investor Act (§ 64.2-780 et seq.) and, if he invests in accordance with these provisions, he shall be accountable only for such interest and profits as are earned. If any funds are otherwise invested without the previous consent of the court having jurisdiction of such trust funds, the burden shall be on the guardian of an estate, conservator, or other fiduciary before his settlement is approved by the commissioner of accounts to show to the satisfaction of the commissioner of accounts that, after exercising reasonable diligence, he was unable to invest the funds in accordance with these provisions and that the investment made was reasonable and proper under all of the circumstances and fair to the beneficiary of the funds.B\n\nThis section shall not be construed as altering the provisions of any will, deed, or other instrument that give the fiduciary discretion as to the rate of interest, character of security, nature or investment under the trust, or time within which the trust funds are to be loaned or invested.","order_by":null,"text":{"0":{"id":238605,"text":"Whenever a guardian of an estate, conservator, or other fiduciary charged with the investment of funds collects any principal, he shall have a reasonable time, not to exceed four months, to invest or loan the funds and shall not be charged with interest thereon until the expiration of such time. A guardian of an estate, conservator, or any other fiduciary shall only be required to invest in accordance with the provisions of §§ 64.2-1502 through 64.2-1506 and the Uniform Prudent Investor Act (§ 64.2-780 et seq.) and, if he invests in accordance with these provisions, he shall be accountable only for such interest and profits as are earned. If any funds are otherwise invested without the previous consent of the court having jurisdiction of such trust funds, the burden shall be on the guardian of an estate, conservator, or other fiduciary before his settlement is approved by the commissioner of accounts to show to the satisfaction of the commissioner of accounts that, after exercising reasonable diligence, he was unable to invest the funds in accordance with these provisions and that the investment made was reasonable and proper under all of the circumstances and fair to the beneficiary of the funds.","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"B"},"1":{"id":238606,"text":"This section shall not be construed as altering the provisions of any will, deed, or other instrument that give the fiduciary discretion as to the rate of interest, character of security, nature or investment under the trust, or time within which the trust funds are to be loaned or invested.","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A"}},"ancestry":[{"id":14225,"edition_id":1,"name":"Investments","identifier":"15","label":"chapter","depth":4,"order_by":1,"parent_id":12991,"metadata":{},"date_created":"2026-06-26 03:47:21","date_modified":"2026-06-26 03:47:21","permalink":{"id":275123,"object_type":"structure","relational_id":14225,"identifier":"15","token":"64.2\/IV\/A\/15","url":"\/64.2\/IV\/A\/15\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12991,"edition_id":1,"name":"Fiduciaries","identifier":"A","label":"part","depth":3,"order_by":1,"parent_id":12905,"metadata":{},"date_created":"2026-06-26 03:44:07","date_modified":"2026-06-26 03:44:07","permalink":{"id":274815,"object_type":"structure","relational_id":12991,"identifier":"A","token":"64.2\/IV\/A","url":"\/64.2\/IV\/A\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12905,"edition_id":1,"name":"Fiduciaries and Guardians","identifier":"IV","label":"subtitle","depth":2,"order_by":1,"parent_id":12723,"metadata":{},"date_created":"2026-06-26 03:44:00","date_modified":"2026-06-26 03:44:00","permalink":{"id":274813,"object_type":"structure","relational_id":12905,"identifier":"IV","token":"64.2\/IV","url":"\/64.2\/IV\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12723,"edition_id":1,"name":"Wills, Trusts, and Fiduciaries","identifier":"64.2","label":"title","depth":1,"order_by":1,"parent_id":null,"metadata":{},"date_created":"2026-06-26 03:43:50","date_modified":"2026-06-26 03:43:50","permalink":{"id":272781,"object_type":"structure","relational_id":12723,"identifier":"64.2","token":"64.2","url":"\/64.2\/","edition_id":1,"permalink":0,"preferred":1}}],"structure_contents":[{"id":82505,"structure_id":14225,"section_number":"64.2-1500","catch_line":"Court orders regarding money in possession of fiduciary","url":"\/64.2-1500\/","token":"64.2\/IV\/A\/15\/64.2-1500","metadata":false},{"id":65653,"structure_id":14225,"section_number":"64.2-1501","catch_line":"Time within which guardian of an estate, conservator, or other fiduciary to invest funds; reasonable diligence required","url":"\/64.2-1501\/","token":"64.2\/IV\/A\/15\/64.2-1501","metadata":false},{"id":55439,"structure_id":14225,"section_number":"64.2-1502","catch_line":"In what securities fiduciaries may invest; definitions","url":"\/64.2-1502\/","token":"64.2\/IV\/A\/15\/64.2-1502","metadata":false},{"id":77131,"structure_id":14225,"section_number":"64.2-1503","catch_line":"Investment in bonds or other obligations issued, guaranteed, or assured by Inter-American Development Bank","url":"\/64.2-1503\/","token":"64.2\/IV\/A\/15\/64.2-1503","metadata":false},{"id":61387,"structure_id":14225,"section_number":"64.2-1504","catch_line":"Investments in municipal bonds by banks or trust companies","url":"\/64.2-1504\/","token":"64.2\/IV\/A\/15\/64.2-1504","metadata":false},{"id":60907,"structure_id":14225,"section_number":"64.2-1505","catch_line":"Investments that cease to be eligible may be retained","url":"\/64.2-1505\/","token":"64.2\/IV\/A\/15\/64.2-1505","metadata":false},{"id":61706,"structure_id":14225,"section_number":"64.2-1506","catch_line":"Investment in mutual fund affiliated with fiduciary","url":"\/64.2-1506\/","token":"64.2\/IV\/A\/15\/64.2-1506","metadata":false}],"previous_section":{"id":82505,"structure_id":14225,"section_number":"64.2-1500","catch_line":"Court orders regarding money in possession of fiduciary","url":"\/64.2-1500\/","token":"64.2\/IV\/A\/15\/64.2-1500","metadata":false},"next_section":{"id":55439,"structure_id":14225,"section_number":"64.2-1502","catch_line":"In what securities fiduciaries may invest; definitions","url":"\/64.2-1502\/","token":"64.2\/IV\/A\/15\/64.2-1502","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/64.2-1501\/","history_text":"

The record of this law\u2019s original creation isn\u2019t available online. It has been modified 3 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 1997, chapter 842<\/a>; in 1999, chapter 772<\/a>; in 2012, chapter 614<\/a>.<\/p>","references":false,"refers_to":[{"id":55439,"section_number":"64.2-1502","catch_line":"In what securities fiduciaries may invest; definitions","order_by":null,"url":"\/64.2-1502\/"},{"id":61706,"section_number":"64.2-1506","catch_line":"Investment in mutual fund affiliated with fiduciary","order_by":null,"url":"\/64.2-1506\/"},{"id":57841,"section_number":"64.2-780","catch_line":"Definition of terms","order_by":null,"url":"\/64.2-780\/"}],"permalink":{"id":275129,"object_type":"law","relational_id":65653,"identifier":"64.2-1501","token":"64.2\/IV\/A\/15\/64.2-1501","url":"\/64.2-1501\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/64.2-1501\/","token":"64.2\/IV\/A\/15\/64.2-1501","dublin_core":{"Title":"Time within which guardian of an estate, conservator, or other fiduciary to invest funds; reasonable diligence required","Type":"Text","Format":"text\/html","Identifier":"\u00a7 64.2-1501","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

A.<\/span> Whenever a guardian of an estate, conservator, or other fiduciary<\/span> charged with the investment of funds collects any principal, he shall have a reasonable time, not to exceed four months, to invest or loan the funds and shall not be charged with interest thereon until the expiration of such time. A guardian of an estate, conservator, or any other fiduciary<\/span> shall only be required to invest in accordance with the provisions of §§ 64.2-1502<\/a> through 64.2-1506<\/a> and the Uniform Prudent Investor Act (§ 64.2-780<\/a> et seq.) and, if he invests in accordance with these provisions, he shall be accountable only for such interest and profits as are earned. If any funds are otherwise invested without the previous consent of the court<\/span> having jurisdiction<\/span> of such trust funds, the burden shall be on the guardian of an estate, conservator, or other fiduciary<\/span> before his settlement<\/span> is approved by the commissioner of accounts to show to the satisfaction of the commissioner of accounts that, after exercising reasonable diligence, he was unable to invest the funds in accordance with these provisions and that the investment made was reasonable and proper under all of the circumstances and fair to the beneficiary of the funds. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> This section shall not be construed as altering the provisions of any will<\/span>, deed, or other instrument that give the fiduciary<\/span> discretion as to the rate of interest, character of security, nature or investment under the trust, or time within which the trust funds are to be loaned or invested. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nTIME WITHIN WHICH GUARDIAN OF AN ESTATE, CONSERVATOR, OR OTHER FIDUCIARY TO\nINVEST FUNDS; REASONABLE DILIGENCE REQUIRED (\u00a7 64.2-1501)\n\nA. Whenever a guardian of an estate, conservator, or other fiduciary charged\nwith the investment of funds collects any principal, he shall have a reasonable\ntime, not to exceed four months, to invest or loan the funds and shall not be\ncharged with interest thereon until the expiration of such time. A guardian of\nan estate, conservator, or any other fiduciary shall only be required to invest\nin accordance with the provisions of §§ 64.2-1502 through 64.2-1506\nand the Uniform Prudent Investor Act (§ 64.2-780 et seq.) and, if he\ninvests in accordance with these provisions, he shall be accountable only for\nsuch interest and profits as are earned. If any funds are otherwise invested\nwithout the previous consent of the court having jurisdiction of such trust\nfunds, the burden shall be on the guardian of an estate, conservator, or other\nfiduciary before his settlement is approved by the commissioner of accounts to\nshow to the satisfaction of the commissioner of accounts that, after exercising\nreasonable diligence, he was unable to invest the funds in accordance with these\nprovisions and that the investment made was reasonable and proper under all of\nthe circumstances and fair to the beneficiary of the funds.\n\nB. This section shall not be construed as altering the provisions of any will,\ndeed, or other instrument that give the fiduciary discretion as to the rate of\ninterest, character of security, nature or investment under the trust, or time\nwithin which the trust funds are to be loaned or invested.\n\nHISTORY: Code 1919, \u00a7 5325; 1938, p. 203; 1946, p. 223; Code 1950, \u00a7 26-39;\n1997, c. 842; 1999, c. 772; 2012, c. 614.","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}}