Chap. 397.—An ACT to amend the Code of Virginia by adding to chapter two
hundred sixty-four thereof a new section numbered 6298-a, providing for the
appointment of substitute trustees in discretionary trusts, and the exercise of
personal confidence and discretionary powers by such substituted trustees.

[H B 356]
Approved March 30, 1934

I. Be it enacted by the General Assembly of Virginia, That the

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four thereof a new section numbered sixty-two hundred and ninety-
eight-a, which new section shall read as follows:

Section 6298-a. Where any trust heretofore or hereafter created
by will, deed, or other instrument in writing is discretionary, or one of
personal confidence, and the trustee or trustees named therein become
incapable of executing the trust for any of the reasons stated in this
chapter, or the purpose of such trust has failed or is failing because
of the arbitrary exercise of discretion by the acting trustee or trustees,
then, and in such event, substitute trustee or trustees shall be appointed
by the court in which such former or original trustee or trustees were
appointed and qualified, or in which such will, deed, or other imstru-
ment in writing is of record, and in the same manner as provided for
the appointment of substituted trustees in other cases, and such sub-
stituted trustee or trustees shall exercise the powers of discretion and
personal confidence vested in the original trustee or trustees under the
direction and approval of the appointing court; provided, that in those
cases where the power or right of exercising the discretion named in
such will, deed, or other instrument in writing is by express language
limited or restricted to the trustee or trustees named therein, or the
rights of remaindermen thereunder have already become vested by the
express terms and clear intent of the instrument creating the trust,
such discretion shall not thereafter be exercised by the court or any
substituted trustee except for preventing the purpose of the trust being
defeated, but shall remain fixed as expressly and specifically stated in
such will, deed, or other instrument in writing.

2. An emergency existing, this act shall be in force from its passage.