2018 Code of Virginia
Title 6.2 - Financial Institutions and Services
Chapter 10 - Entities Conducting Trust Business
§ 6.2-1093. Custody of assets and investments held in trust

Universal Citation: VA Code § 6.2-1093 (2018)

A. The assets and investments of each trust account shall be kept separate from the assets of the association and shall be placed in the joint custody or control of not fewer than two of the officers or employees of the association designated for that purpose by the board of directors of the association. All such officers and employees shall be adequately bonded.

B. The assets and investments of each trust account shall be either kept separate from those of all other trust accounts, except as provided in § 6.2-1095, or otherwise adequately identified as the property of the relevant account.

1984, c. 303, § 6.1-195.90; 2010, c. 794.

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