Virginia § 8.01-525.7 - Trustee; rights and duties; compensation
Full text of Virginia Code of Virginia § 8.01-525.7 — Trustee; rights and duties; compensation, with citation guidance and answers to common questions.
§ 8.01-525.7. Trustee; rights and duties; compensation
A trustee appointed pursuant to § 8.01-525.6 shall make written reports to the court as required by the court. The trustee may charge a fee of five percent of such salary, wages, or income received and disbursed by him; however, no public officer or employee who receives a full-time salary and who acts as trustee under this article shall retain such fee for his personal use.
The trustee, upon being appointed, shall give written notice to any person, firm, or corporation who may owe the debtor any salary, wages, or income, and upon receiving such notice such person, firm, or corporation shall pay to the trustee any salary, wages, or income that are owed to such debtor, at the time it would otherwise be due to the debtor.
The trustee may compromise and settle any claims against the debtor when he believes such compromise shall be for the benefit of all the creditors.
1936, p. 523; Michie Code 1942, § 5278f; Code 1950, § 55-162; 2019, c. 712.
Source: official Virginia text · Last verified 2026-08-27
Frequently Asked Questions About Virginia § 8.01-525.7
What does Code of Virginia § 8.01-525.7 cover?
Section 8.01-525.7 ("Trustee; rights and duties; compensation") is part of the Code of Virginia, the codified statutory law of Virginia. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Virginia § 8.01-525.7?
A common citation format is "Code of Virginia § 8.01-525.7" (Virginia). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Virginia law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Virginia official source linked on this page or consult a licensed Virginia attorney.
How does Virginia § 8.01-525.7 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Virginia can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Virginia.