§ 26-46.2. Jurisdiction for qualification of trustee; qualification and bond; when surety not require...
In the case of testamentary trusts, if the will has been admitted to probate in this Commonwealth, the jurisdiction where the will has been probated shall be the exclusive jurisdiction for qualification of the trustee or trustees under such will. If such will is the will of a nonresident, and has not been admitted to probate, then the trustee or trustees thereunder shall be permitted to qualify in any jurisdiction in which such will could be probated, and if there be no such jurisdiction, then qualification shall be as permitted in § 26-46.3.
Each trustee named in a will probated after July 1, 1968, before proceeding to act thereunder, shall qualify and give bond before the proper court or clerk thereof with surety, as may be required by the court or clerk unless (i) the will waives surety on the bond, or (ii) the necessity for surety is dispensed with under § 6.1-18, or (iii) the will was executed prior to July 1, 1968, and the trustee or trustees offering to qualify as such were also named in the will as executor or executors and qualify as such, and (iv) the will waives surety upon the bond of such executor or executors.
The provisions hereof shall not apply to a testamentary devise or bequest to a church or its trustees.
(1964, c. 464; 1966, c. 327; 1968, c. 514; 1981, c. 239.)
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