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GOODRIDGE v. NATIONAL BANK OF COMMERCE OF NORFOLK

106 S.E.2d 598 (1959)

200 Va. 511

George McGregor GOODRIDGE, Jr., et al., etc. v. NATIONAL BANK OF COMMERCE OF NORFOLK, etc., et al.

Supreme Court of Appeals of Virginia.

January 26, 1959.

Attorney(s) appearing for the Case

Luther W. White, III, Norfolk (Worthington, White & Harper, Norfolk, on the brief), for appellants.

Charles L. Kaufman, Norfolk, for appellees National Bank of Commerce of Norfolk and Charles L. Kaufman, trustees.

Before SPRATLEY, BUCHANAN, MILLER, WHITTLE, SNEAD and I'ANSON, JJ.

BUCHANAN, Justice.

This appeal raises the question of whether the Virginia prudent man investment statute enacted in 1956, Acts 1956, ch. 660, Code 1950 as amended, § 26-45.1,1 may be applied to two trusts created prior to 1956. No disputed fact is involved.

By indenture dated December 12, 1940, Harry B. Goodridge transferred and delivered certain securities to National Bank of...

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