                                 CODE OF VIRGINIA

DISCLAIMER OF POWER HELD IN FIDUCIARY CAPACITY (§ 64.2-2609)

A. If a fiduciary disclaims a power held in a fiduciary capacity that has not
been exercised, the disclaimer takes effect as of the time the instrument
creating the power becomes irrevocable.

B. If a fiduciary disclaims a power held in a fiduciary capacity that has been
exercised, the disclaimer takes effect immediately after the last exercise of
the power.

C. A disclaimer under this section is effective as to another fiduciary if the
disclaimer so provides and the fiduciary disclaiming has the authority to bind
the estate, trust, or other person for whom the fiduciary is acting.

HISTORY: 2003, c. 253, § 64.1-196.10; 2012, c. 614.