§ 6.1-18. When security not required
No bank or trust company of this Commonwealth, with a minimum unimpaired capital stock of $50,000 or more, shall be required by any officer or court of this Commonwealth to give security upon appointment to or acceptance of any office of trust which it may, by law, be authorized to execute or to give security upon any bond given pursuant to § 4.1-341 or similar statute; provided, however, no bank or trust company shall qualify on an estate having a value in excess of its combined unimpaired capital and surplus without giving bond for such excess. When such bank or trust company shall qualify on any office of trust, the clerk in lieu of collecting the fees under Title 17.1 and probate taxes may render a bill or statement to such bank or trust company to be paid within five business days.
(Code 1950, § 6-95; 1966, c. 584; 1988, c. 348; 1993, c. 866.)
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