Fiduciaries; letters of administration, bond without surety. (HB487)

Introduced By

Del. Barry Knight (R-Virginia Beach) with support from co-patrons Del. Glenn Davis (R-Virginia Beach), Del. Jay Leftwich (R-Chesapeake), and Sen. Bill DeSteph (R-Virginia Beach)

Description

Fiduciaries; letters of administration; bond without surety. Provides that certificates of qualification and letters of administration for obtaining probate must state the amount of any surety required, or that no surety was required. The bill also requires good cause be shown in order for a circuit court, or circuit court clerk, having authority to appoint a personal representative to allow that representative to give bond without surety where the amount coming into possession of the personal representative is $15,000 or less. The bill also provides that no personal representative giving bond without surety under this section shall be permitted control over a decedent's property valued in excess of $15,000. Read the Bill »

Outcome

History