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SB78

Trust decanting; authorized fiduciary.

Status:
Enacted

Chief Patron:
John Edwards (D)

Session:
2018 Regular Session

Summary

As Introduced. Trust decanting; authorized fiduciary.

Reinstates the restriction in Virginia's former trust decanting law that limits the type of fiduciary who may exercise the decanting power to a disinterested trustee. The bill also reinstates the former provisions that state that the decanting power may be exercised by a majority of the authorized fiduciaries and that the court has the power to appoint a special fiduciary to exercise the decanting power. The bill contains an emergency clause. (Less)

  • Bill History

  • 12/04/2017 - Senate: Prefiled and ordered printed with emergency clause; offered 01/10/18 18101870D
  • 12/04/2017 - Senate: Referred to Committee for Courts of Justice
  • 01/24/2018 - Senate: Reported from Courts of Justice (15-Y 0-N)
  • 01/26/2018 - Senate: Constitutional reading dispensed (35-Y 0-N)
  • 01/29/2018 - Senate: Read second time and engrossed
  • 01/30/2018 - Senate: Read third time and passed Senate (39-Y 0-N)
  • 02/05/2018 - House: Placed on Calendar
  • 02/05/2018 - House: Read first time
  • 02/05/2018 - House: Referred to Committee for Courts of Justice
  • 02/15/2018 - House: Assigned Courts sub: Subcommittee #2
  • 02/19/2018 - House: Subcommittee recommends reporting (8-Y 0-N)
  • 02/23/2018 - House: Reported from Courts of Justice (18-Y 0-N)
  • 02/27/2018 - House: Read second time
  • 02/28/2018 - House: Read third time
  • 02/28/2018 - House: Passed House BLOCK VOTE (98-Y 0-N)
  • 02/28/2018 - House: VOTE: BLOCK VOTE PASSAGE (98-Y 0-N)
  • 03/05/2018 - Senate: Enrolled
  • 03/05/2018 - Senate: Bill text as passed Senate and House (SB78ER)
  • 03/05/2018 - House: Signed by Speaker
  • 03/08/2018 - Senate: Signed by President
  • 03/14/2018 - Senate: Enrolled Bill Communicated to Governor on March 14, 2018
  • 03/14/2018 - Governor: Governor's Action Deadline Midnight, April 9, 2018
  • 03/23/2018 - Governor: Approved by Governor-Chapter 476 (effective 3/23/18)
  • 03/23/2018 - Governor: Acts of Assembly Chapter text (CHAP0476)

Full text and vote history:

Virginia Legislative Information System

RichmondSunlight.com

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