§ 64.1-69. When direction to purchase annuity binding on legatee
If a person direct in his will the purchase of an annuity sufficient to provide a minimum income of ten dollars per month, the person or persons to whom the income therefrom shall be paid, shall not have the right to take the sum directed to be used for such purpose in lieu of such annuity, except to the extent that the will expressly provides for such right or except to the extent that the will expressly provides that an assignable annuity be purchased.
(Code 1950, § 64-68.1; 1956, c. 448; 1968, c. 656.)
Sections: Previous 64.1-66 64.1-66.1 64.1-66.2 64.1-67 64.1-67.1 64.1-67.2 64.1-68 64.1-69 64.1-69.1 64.1-70 64.1-71 64.1-71.1 64.1-72 64.1-73 64.1-73.1 NextLast modified: April 3, 2009