12102837D
HOUSE BILL NO. 134
House Amendments in [ ] -- January 26, 2012
A BILL to amend and reenact §8.01-606 of the Code of Virginia,
relating to court distributions; dollar limits.
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Patron Prior to Engrossment--Delegate Kilgore
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Referred to Committee for Courts of Justice
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Be it enacted by the General Assembly of Virginia:
1. That §8.01-606 of the Code of Virginia is amended
and reenacted as follows:
§8.01-606. Payment of small amounts to certain persons
through court without intervention of fiduciary; authority of commissioners of
accounts; certain fiduciaries exempt from accountings.
A. Whenever there is due to any person, any sum of money from
any source, not exceeding [ $15,000 $25,000 ] , the
fund may be paid into the circuit court of the county or city in which the fund
became due or such person resides. The court may, by an order entered of record,
(i) pay the fund to the person to whom it is due, if the person is considered
by the court competent to expend and use the same in his behalf, or (ii) pay
the fund to some other person who is considered competent to administer it, for
the benefit of the person entitled to the fund, without the intervention of a
fiduciary, whether the other person resides within or without this
Commonwealth. The clerk of the court shall take a receipt from the person to
whom the money is paid, which shall show the source from which it was derived,
the amount, to whom it belongs, and when and to whom it was paid. The receipt
shall be signed and acknowledged by the person receiving the money, and entered
of record in the book in the clerk's office in which the current fiduciary
accounts are entered and indexed. Upon the payment into court the person owing
the money shall be discharged of such obligation. No bond shall be required of
the party to whom the money is paid by the court.
B. Whenever (i) it appears to the court having control of a
fund, tangible personal property or intangible personal property or supervision
of its administration, whether a suit is pending therefor or not, that a person
under a disability who has no fiduciary, is entitled to a fund arising from the
sale of lands for a division or otherwise, or a fund, tangible personal
property or intangible personal property as distributee of any estate, or from
any other source, (ii) a judgment, decree, or order for the payment of a sum of
money or for delivery of tangible personal property or intangible personal
property to a person under a disability who has no fiduciary is rendered by any
court, and the amount to which such person is entitled or the value of the
tangible personal property or intangible personal property is not more than
$15,000 $25,000, or (iii) a person under a disability is entitled to
receive payments of income, tangible personal property or intangible personal
property and the amount of the income payments is not more than $15,000
$25,000 in any one year, or the value of the tangible personal property is
not more than $15,000 $25,000, or the current market value of the
intangible personal property is not more than $15,000 $25,000,
the court may, without the intervention of a fiduciary, cause such fund,
property or income to be paid or delivered to any person deemed by the court
capable of properly handling it, to be used solely for the education,
maintenance and support of the person under a disability. In any case in which
an infant is entitled to such fund, property or income, the court may, upon its
being made to appear that the infant is of sufficient age and discretion to use
the fund, property or income judiciously, cause the fund to be paid or
delivered directly to the infant.
C. Whenever a person is entitled to a fund or such property
distributable by a fiduciary settling his accounts before the commissioner of
accounts of the court in which the fiduciary qualified, and the amount or value
of the fund or property, or the value of any combination thereof, is not more
than [ $15,000 $25,000 ] , the commissioner of
accounts may approve distribution thereof in the same manner and to the extent
of the authority herein conferred upon a court including exemption from filing
further accounts where the value of the fund being administered is less than [ $15,000
$25,000 ] .
D. Whenever an incapacitated person or infant is entitled to a
fund or such property distributable by a fiduciary settling accounts before the
commissioner of accounts of the court in which the fiduciary qualified and the
will or trust instrument under which the fiduciary serves, authorizes the
fiduciary to distribute the property or fund to the incapacitated person or
infant without the intervention of a guardian, conservator or committee, and
the amount or value of such fund or property, or the value of any combination
thereof, is not more than [ $15,000 $25,000 ] , the commissioner
of accounts may approve distribution thereof in the same manner and to the
extent of the authority hereinabove conferred upon a court or judge thereof.
E. Whenever a fiduciary is administering funds not exceeding [
$15,000 $25,000 ] , the circuit court of the county or city in
which the fund is being administered by order entered of record may authorize
the fiduciary, when considered competent to administer the funds, to continue
to administer the funds for the benefit of the person entitled to the fund
without the necessity of filing any further accounts, whether such person
resides within or without this Commonwealth. The clerk of the court shall take
a receipt from the fiduciary, which shall show the amount of the fund
remaining, to whom it belongs, and the date the court entered the order
exempting the filing of further accounts. The receipt shall be signed and
acknowledged by the fiduciary, and entered of record in the book in the clerk's
office in which the current fiduciary accounts are entered and indexed. No
surety shall be required on the bond of a fiduciary granted an exemption from
filing any further accounts.
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