                                 CODE OF VIRGINIA

ENVIRONMENTAL LIABILITY OF FIDUCIARIES (§ 64.2-1422)

A. As used in this section:
			&#8220;Environmental law&#8221; means any federal, state, or local law, rule,
regulation, or ordinance relating to protection of the environment or human
health.
			&#8220;Fiduciary&#8221; includes guardians, committees, conservators,
trustees, executors, administrators and administrators with the will annexed,
curators of decedents&#8217; wills, and attorneys-in-fact or agents acting for
principals under written powers of attorney, and any combination of individuals,
corporations, and other entities serving in those capacities.
			&#8220;Individual capacity&#8221; means the nonfiduciary capacity of any
individual, corporation, or other entity serving as a fiduciary.

B. As to any property held in trust or in an estate, a fiduciary shall not be
considered in its individual capacity to be (i) the owner or operator of that
property as defined under any applicable environmental law or (ii) a party
otherwise liable under any environmental law unless the fiduciary&#8217;s acts
or omissions outside the scope of its fiduciary duties constitute conduct that
independently would give rise to individual liability.

C. A fiduciary shall not be liable in its individual capacity to any beneficiary
or other party for any decrease in value of assets in trust or in an estate by
reason of the fiduciary&#8217;s investigation or evaluation of potential
contamination of property held in the trust or estate or the fiduciary&#8217;s
compliance with any environmental law, specifically including any reporting or
disclosure requirement under such law.

D. Neither a fiduciary&#8217;s acceptance of property nor its failure to inspect
property shall be deemed to create any implication as to whether or not there is
or may be any liability under any environmental law with respect to such
property.

E. Nothing in this section shall affect or modify any defense to individual
liability under any environmental law available to any fiduciary under any other
provision of state or federal law, including the common law.

HISTORY: 1994, c. 476, § 26-7.4; 1997, c. 801; 2012, c. 614.