No person not a resident of this state may be named or act, in person or by agent or attorney, as the trustee of a security trust, either individually or as one of several trustees, the other or others of which are residents of this state. No corporation may be named or act as the trustee or as one of the trustees of a security trust unless it is chartered under the laws of this state or of the United States of America, and unless its principal office is within this state.
Structure West Virginia Code
Article 1A. Trustees of Security Trusts
§38-1A-1. &Quot;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