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Home / Opinion Digests / National Bank Must Qualify as Va. Fiduciary (access required)

National Bank Must Qualify as Va. Fiduciary (access required)

A Fauquier County Circuit Court rejects a charitable remainder trust’s request to substitute J.P. Morgan Chase Bank NA as successor trustee to Bank of America NA, as J.P. Morgan Chase has not qualified as a fiduciary as it is not a corporation authorized to do business in Virginia. Pursuant to Va. Code § 26-59(B), no corporation ...

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