38-1A-1 “Security trust” defined
38-1A-2 Nonresident of state not to be named trustee; corporations eligible to be trustees
38-1A-3 Validity of sales and titles conveyed by nonresident trustees
38-1A-4 Enjoining sales or conveyances by nonresident trustees
38-1A-5 Recovery of commissions, costs and expenses following sale by nonresident trustee
38-1A-6 Security trust not to be recorded unless trustee’s address stated; sufficiency thereof
38-1A-7 Secretary of state attorney-in-fact for service on nonresident trustees
38-1A-8 How service of process or notice made
38-1A-9 Action by Secretary of State following service
38-1A-10 Other manner of serving process or notice
38-1A-11 Appointment of resident trustee by court; powers and duties of substituted trustee
38-1A-12 Notice of motion for appointment of resident trustee; guardians ad litem
38-1A-13 Provisions of article severable and remedial
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Terms Used In West Virginia Code > Chapter 38 > Article 1A - Trustees of Security Trusts

  • Attorney-in-fact: A person who, acting as an agent, is given written authorization by another person to transact business for him (her) out of court.
  • Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Deed: The legal instrument used to transfer title in real property from one person to another.
  • Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. Source: OCC
  • Grantor: The person who establishes a trust and places property into it.
  • Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
  • Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
  • Service of process: The service of writs or summonses to the appropriate party.
  • State: when applied to a part of the United States and not restricted by the context, includes the District of Columbia and the several territories, and the words "United States" also include the said district and territories. See West Virginia Code 2-2-10
  • Trustee: A person or institution holding and administering property in trust.