Code of Virginia - Title 6.1 Banking And Finance - Section 6.1-194.61 Accounts held by various trustees for same beneficiary

§ 6.1-194.61. Accounts held by various trustees for same beneficiary

Whenever trust interests or accounts are created for the same beneficiary, but each such interest or account is in the name of a separate and distinct trustee, or combination of trustees, each such trust interest or account shall constitute a separate, distinct and valid trust entity for all purposes.

(Code 1950, §§ 6-201.22:1, 6.1-149.1, 6.1-195.24; 1966, cc. 219, 584; 1972, c. 796; 1985, c. 425.)

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Last modified: April 2, 2009