§55-10-7. Fiduciary may submit to arbitration.
Any personal representative of a decedent, guardian of an
infant, committee of an insane person or a convict, or trustee, may
file his petition in the circuit court of the county in which he
qualified or was appointed, asking permission from such court to
submit to arbitration any suit or matter of controversy touching
the estate or property of such decedent, infant, insane person, or
convict, or in respect to which he is trustee, in which petition
shall be stated the facts upon which the petitioner seeks the
permission of the court. The court may, in its discretion, grant
or refuse the prayer of the petition. If the petition be filed in
good faith, and the petition be granted by the court, an order
showing that permission to arbitrate was granted shall be entered
on the chancery order book of the court, and the award made in any
such case shall be binding upon all the parties in interest, and
shall be entered as the judgment or decree of the court in the same
manner as other submissions and awards are entered, unless set
aside by the court. If the petition be filed in good faith and
there be no fault or neglect on the part of the fiduciary, he shall
not be responsible for any loss sustained by an award adverse to
the interests of his decedent, ward, insane person, convict or
beneficiary under any such trust.
Note: WV Code updated with legislation passed through the 2014 1st Special Session
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