A professional limited liability company engaged in the practice of law, as a part of the practice of law, may act as an executor, trustee or administrator of an estate, guardian for an infant, or in any other fiduciary capacity. Any member, manager, employee or agent of a professional limited liability company engaged in the practice of law who is duly licensed as an attorney in the Commonwealth may perform necessary fiduciary responsibilities on behalf of the professional limited liability company.
Va. Code Ann. § 13.1-1108
Professional law limited liability company may qualify as executor, administrator or in other fiduciary capacity
Applied in 2 court decisions — leading case Walker v. Virginia Housing Development Authority (2003)
Most recently applied in Wachovia Bank, N.A. v. Van Huyck (April 2004)
1992, c. 574.
Official source: Virginia Law Portal (LIS). Reproduced from public-domain Virginia statutes; confirm against the official source for the current text. Not legal advice.