CHAPTER 448

An Act to make the purchase of an annuity mandatory when directed by
a testator under certain circumstances. 3 os
[ ]

Approved March 30, 1956

Be it enacted by the General Assembly of Virginia:

1. Ifa person dying after the effective date of this act shall direct in his
last will and testament the purchase of an annuity, the person or persons
to whom the income therefrom shall be directed to be paid shall not have
the right to take the sum directed to be used for such purchase in lieu of
such annuity, except to the extent the will expressly provides for such
right or except to the extent that the will expressly provides that an
assignable annuity be purchased. Provided, that the provisions of this
act shall not apply unless the sum directed for such purchase shall be
sufficient to provide an income of at least ten dollars per month.