Whenever a trustee bank resigns or a successor trustee bank is appointed by the board of trustees, it shall be the duty of said board to require such trustee bank theretofore named to transfer and deliver to the successor trustee bank, all trust funds and trust property of any kind, character or description in its possession belonging to any trust created under this chapter, together with an accounting as to moneys received, securities purchased, investments made, interest earned, moneys disbursed, and to whom, and such other information as may be required by said successor trustee bank. Any trustee bank theretofore named as trustee shall immediately transfer and deliver to the trustee bank last named all such moneys or the securities in which such moneys were invested or other property of any kind, character or description, the avails of such moneys together with a financial statement of each separate trust fund theretofore received by it.
(Prior code § 22-9)