Chap. 116.—An ACT to amend and re-enact section 6298 of the Code of Virginia,
as heretofore amended, relating to appointment of trustees in the place of one
who is dead, has resigned, removed or declined the trust, authorizing the
beneficiary to make the appointment of substitute trustees in certain cases.

[S B 189]
Approved March 14, 1934

1. Be it enacted by the General Assembly of Virginia, That sec-
tion sixty-two hundred and ninety-eight of the Code of Virginia, as
heretofore amended, be amended and re-enacted so as to read as
follows:

Section 6298. When a trustee in a will, deed or other writing dies,
or becomes incapable of executing the trust on account of physical or
mental disability or confinement in prison, or removes beyond the
limits of the State, or declines to accept the trust, or when having
accepted, he resigns the same, as he may be allowed to do, or when
if the said trustee be a corporation, the said corporation be adjudi-
cated a bankrupt, or for any reason lose its charter, or for any good
cause shown, the circuit court of the county, or the circuit, corpora-
tion or other court of the city in which such will was admitted to
probate, or such deed or other writing is or might have been recorded,
or if a corporation, in which its principal office is located, or in which

the trustee resides, or the judge thereof in vacation may, on motion
of any party interested, and upon satisfactory evidence of such death,
incapacity, confinement, removal, declination, resignation, bankruptcy,
loss of charter, or of such other good cause, appoint a trustee or
trustees in place of the trustee or trustees named in such instrument.

In any deed of trust, or trust agreement, the maker, or makers,
grantor, or grantors, may grant to the beneficiary or beneficiaries, or
a majority in amount of the holders of the obligations secured there-
under the right and power to appoint a substitute trustee or trustees,
in event of the resignation, death, incapacity, disability, removal or
absence from the State of the trustee or trustees.

Where such power is so granted the beneficiary may designate and
appoint a substitute trustee or trustees, in accordance with the deed of
trust or other instrument creating or granting the power of appoint-
ment, by an instrument duly executed and acknowledged and filed
for recordation in the office of the clerk of the court wherein the
original deed of trust, or trust agreement is recorded. When such
instrument of appointment shall have been so filed and recorded
the substitute trustee or trustees named therein shall be vested with
all the powers, rights, authority and duties vested in the trustee or
trustees in the original deed of trust or trust agreement. The clerk
of the court where said instrument is recorded shall note on the mar-
gin of the deed book where the original deed of trust, or trust agree-
ment, is recorded the fact of the substitution of a trustee or trustees
and the place where the same is recorded.