{"data":{"id":"us-wv/w.-va.-code-31i-1-9","jurisdiction":"us-wv","citation":"W. Va. Code § 31I-1-9","heading":"Limitation on powers.","body":"(a) In the exercise of any power held by a private trust company or licensed private trust company in its capacity as a fiduciary, the private trust company or licensed private trust company shall have a duty not to exercise any power in such a way as to deprive the estate, trust, or other entity for which it acts as a fiduciary of an otherwise available tax exemption, deduction, or credit for tax purposes, or deprive a donor of trust assets of a tax exemption, deduction, or credit or operate to impose a tax upon a donor or other person as owner of any portion of the estate, trust, or otherwise.\n(b) Without limitation to subsection (a) of this section, no family member who is a stockholder or member or who otherwise holds an equity interest in, or is serving as a director, officer, manager, or employee of, a private trust company or licensed private trust company shall participate in or otherwise have a voice in any discretionary decision by the private trust company or licensed private trust company to distribute income or principal of any trust in order to discharge a legal obligation of a family member or for a family member’s pecuniary benefit, unless:\n(1) The exercise of the discretion is limited by an ascertainable standard relating to the health, education, support, or maintenance of that family member;\n(2) The distribution is necessary for that family member’s support, health, or education; or\n(3) The instrument governing the administration of that trust clearly so provides.","path":["CHAPTER 31I. TRUST COMPANIES.","ARTICLE 1. PRIVATE TRUST COMPANIES AND PRIVATE TRUST BUSINESS."],"source_url":"https://code.wvlegislature.gov/31I-1-9/","current_through":"as of 2026-08-03; contains at least the enactments of the 2026 Regular Session","vintage":"","retrieved_at":"2026-09-06T00:28:13Z","sha256":"5fb811df34ded5000300f27685340b840ae92968885203baec5e9fd704c2a931","source_id":"us-wv","stale":true,"prev":"us-wv/w.-va.-code-31i-1-8","next":"us-wv/w.-va.-code-31i-1-10"},"notice":"GroundRules: Original legal text. Not legal advice."}