31-14.1 - Powers of guardian.
§ 31-14.1. Powers of guardian.
A. Whether appointed by a parent, the court or clerk, a guardian of a minor'sestate shall have the following powers and the powers set forth in § 64.1-57as of the date the guardian acts which, subject to the provisions ofsubsection B, may be exercised without any prior authorization:
1. To ratify or reject a contract entered into by the minor;
2. To pay any sum distributable for the benefit of the ward by paying the sumdirectly to the ward, to the provider of goods and services, to anyindividual or facility that is responsible for or has assumed responsibilityfor care and custody, or to a ward's custodian under a Uniform Transfers (orGifts) to Minors Act of any applicable jurisdiction;
3. To maintain life, health, casualty and liability insurance for the benefitof the ward;
4. To manage the estate following the termination of the guardianship untilits delivery to the ward or successors in interest;
5. To execute and deliver all instruments, and to take all other actions thatwill serve in the best interests of the ward;
6. To initiate a proceeding to seek a divorce, or to make an augmented estateelection under § 64.1-13; and
7. To borrow money for such periods of time and upon such terms andconditions as to rates, maturities, renewals and security as the guardiandeems advisable, including the power to borrow from the guardian, if theguardian is a bank, for any purpose; to mortgage or pledge such portion ofthe ward's personal estate, and real estate subject to subsection B, as maybe required to secure such loan or loans; and, as maker or endorser, to renewexisting loans.
B. The court or the commissioner of accounts, if a guardian is appointedother than by the court, may impose requirements to be satisfied by theguardian prior to the conveyance of any interest in real estate, includingbut not limited to (i) increasing the amount of the guardian's bond, (ii)securing an appraisal of the real estate or interest, (iii) giving notice tointerested parties as the court or commissioner deems proper, and (iv)consulting by the guardian with the commissioner of accounts.
1. If the court or commissioner imposes any such requirements, the guardianshall make a report of his compliance with each requirement, to be filed withthe commissioner of accounts. Promptly following receipt of the guardian'sreport, the commissioner shall file a report with the court stating whetherthe requirements imposed have been met and whether the conveyance isotherwise consistent with the guardian's duties. The conveyance shall not beclosed until a report by the commissioner of accounts is filed with the courtand confirmed as provided in §§ 26-33, 26-34 and 26-35.
2. If the commissioner does not impose any such requirements, he shall, uponrequest of the guardian of the minor, issue a notarized statement providingthat "The Commissioner of Accounts has declined to impose any requirementsupon the power of (name of guardian), Guardian of (name of minor), to conveythe following real estate of the minor: (property identification)." Theconveyance shall not be closed until the guardian has furnished such astatement to the proposed grantee.
C. Any guardian may at any time irrevocably disclaim the right to exerciseany of the powers conferred by this section by filing a suitable writtendisclaimer with the clerk of the court wherein his accounts may be settled.Such disclaimer shall relate back to the time when the guardian assumed theguardianship and shall be binding upon any successor guardian.
(1999, c. 16.)