State Codes and Statutes

Statutes > West-virginia > 44 > 44-6-1

§44-6-1. Fiduciaries to put money out at interest.

Executors, administrators, guardians, curators, committees, or trustees may, by direction of the circuit court of the county, where they were appointed or qualified, put out at interest all moneys in their hands which they are or may be lawfully required to retain, whether the same belongs to minors, legatees or other person or persons, upon such security, and for such length of time, as such court will allow, and if the security so taken, bona fide and without fraud, shall prove insufficient, it shall be the loss of the beneficiaries entitled thereto; and it shall be the duty of such executors, administrators, guardians, curators, committees or trustees, in cases where the estates in their hands may be materially benefited thereby, to make application to such circuit court for such direction, and in case they shall neglect so to do they shall be accountable for the interest that might have been made thereby; but if no person who may be willing to take such money at interest, giving such security, can be found by such executors, administrators, guardians, curators, committees, or trustees, then such executors, administrators, guardians, curators, committees, or trustees shall, in such cases, be accountable for the principal money only, until it can be put out at interest as aforesaid; but in any case where executors, administrators, guardians, curators, committees or trustees use the money of the estates which shall come to their hands, they shall be accountable not only for the principal, but also for the interest thereon.

State Codes and Statutes

Statutes > West-virginia > 44 > 44-6-1

§44-6-1. Fiduciaries to put money out at interest.

Executors, administrators, guardians, curators, committees, or trustees may, by direction of the circuit court of the county, where they were appointed or qualified, put out at interest all moneys in their hands which they are or may be lawfully required to retain, whether the same belongs to minors, legatees or other person or persons, upon such security, and for such length of time, as such court will allow, and if the security so taken, bona fide and without fraud, shall prove insufficient, it shall be the loss of the beneficiaries entitled thereto; and it shall be the duty of such executors, administrators, guardians, curators, committees or trustees, in cases where the estates in their hands may be materially benefited thereby, to make application to such circuit court for such direction, and in case they shall neglect so to do they shall be accountable for the interest that might have been made thereby; but if no person who may be willing to take such money at interest, giving such security, can be found by such executors, administrators, guardians, curators, committees, or trustees, then such executors, administrators, guardians, curators, committees, or trustees shall, in such cases, be accountable for the principal money only, until it can be put out at interest as aforesaid; but in any case where executors, administrators, guardians, curators, committees or trustees use the money of the estates which shall come to their hands, they shall be accountable not only for the principal, but also for the interest thereon.


State Codes and Statutes

State Codes and Statutes

Statutes > West-virginia > 44 > 44-6-1

§44-6-1. Fiduciaries to put money out at interest.

Executors, administrators, guardians, curators, committees, or trustees may, by direction of the circuit court of the county, where they were appointed or qualified, put out at interest all moneys in their hands which they are or may be lawfully required to retain, whether the same belongs to minors, legatees or other person or persons, upon such security, and for such length of time, as such court will allow, and if the security so taken, bona fide and without fraud, shall prove insufficient, it shall be the loss of the beneficiaries entitled thereto; and it shall be the duty of such executors, administrators, guardians, curators, committees or trustees, in cases where the estates in their hands may be materially benefited thereby, to make application to such circuit court for such direction, and in case they shall neglect so to do they shall be accountable for the interest that might have been made thereby; but if no person who may be willing to take such money at interest, giving such security, can be found by such executors, administrators, guardians, curators, committees, or trustees, then such executors, administrators, guardians, curators, committees, or trustees shall, in such cases, be accountable for the principal money only, until it can be put out at interest as aforesaid; but in any case where executors, administrators, guardians, curators, committees or trustees use the money of the estates which shall come to their hands, they shall be accountable not only for the principal, but also for the interest thereon.