CHAPTER 381

An Act to amend and reenact § 8-694 of the Code of Virginia, relating to
disposition of proceeds from sale of lands of persons under disability.

(S 271]
Approved April 2, 1968

Be it enacted by the General Assembly of Virginia:

ai That § 8-694 of the Code of Virginia be amended and reenacted as
ollows:

§ 8-694. Disposition of share in proceeds of infant or insane person.—
The court making an order for sale shall, when the dividend of a party
exceeds two thousand five hundred dollars, if such party be an infant or
insane, order the same to be invested as the proceeds of a sale under article
2 (§ 8-674 et seq.) of this chapter are required to be invested. If such
dividend does not exceed two thousand five hundred dollars the same shall
be paid to the guardian of such infant, or committee of such insane person,
the court being first satisfied that such guardian or committee has given
bond in sufficient penalty and with sureties sufficient for the security of
the same; provided, however, that if such dividend does not exceed two
thousand five hundred dollars, the court, in its discretion and without the
mtervention of a committee or guardian, may pay such funds to either or
both parents of the infant or insane person. Such funds not in excess of
two thousand five hundred dollars shall, when paid over to the parent,
guardian or committee, be deemed personal property. But if the interest
of any person be held in trust the dividend of such person, whether greater
or less than two thousand five hundred dollars, shall be paid to the trustee,
upon his giving bond as trustee, with sufficient surety, to be held by him
upon the same trusts as the interest of such person in the land was held.