H. B. 2599
(By Delegates Beane and Staton)
[Introduced
February 23, 2005
; referred to the
Committee on the Judiciary.]
A BILL to amend and reenact §44-5-4 of the Code of West Virginia,
1931, as amended, relating to who may be accepted as surety on
a fiduciary bond.
Be it enacted by the Legislature of West Virginia:
That §44-5-4 of the Code of West Virginia, 1931, as amended,
be amended and reenacted to read as follows:
ARTICLE 5. GENERAL PROVISIONS AS TO FIDUCIARIES.
§44-5-4. Who not to be accepted as surety on fiduciary's bond.
A judge of the circuit court, member of the county commission,
clerk or deputy clerk of the circuit court or county sheriff or
deputy sheriff, fiduciary commissioner or an attorney-at-law
representing a participant in the estate or trust, shall not be
taken as surety in any bond required to be given by any fiduciary.
When, for any reason, the provisions of this section are violated
in the taking of any bond, the bond so given shall not be void, but upon the discovery of such fact a new bond shall be required of the
fiduciary.
NOTE: The purpose of this bill is to provide that an
attorney-at-law representing a participant in an estate or trust
may not be accepted as a surety on a fiduciary bond.
Strike-throughs indicate language that would be stricken from
the present law, and underscoring indicates new language that would
be added.
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