Spendthrift trust; related duties. (HB2832)

Introduced By

Del. Katherine Waddell (I-Richmond)

Progress

Introduced
Passed Committee
Passed House
Passed Senate
Signed by Governor
Became Law

Description

Spendthrift trust; related duties. The changes to 55-541.05 make the statute more consistent with other related code sections; changes to 55-545.01, 55-545.03 and 55-545.06 make it clear that an exception creditor cannot reach a beneficiary's interest even if the instrument contains a spendthrift provision, limit an exception creditor's access to a beneficiary's benefits, and define mandatory distribution, respectively. Read the Bill »

Status

03/09/2007: signed by governor

History

DateAction
01/10/2007Committee
01/10/2007Prefiled and ordered printed; offered 01/10/07 076077372
01/10/2007Referred to Committee for Courts of Justice
01/17/2007Assigned Courts sub: Civil Law
01/30/2007Read first time
01/31/2007Read second time and engrossed
02/01/2007Read third time and passed House BLOCK VOTE (99-Y 0-N)
02/01/2007Communicated to Senate
02/02/2007Constitutional reading dispensed
02/02/2007Referred to Committee for Courts of Justice
02/09/2007Constitutional reading dispensed (39-Y 0-N)
02/09/2007VOTE: (39-Y 0-N) (see vote tally)
02/12/2007Read third time
02/12/2007Passed Senate (40-Y 0-N)
02/12/2007VOTE: (40-Y 0-N) (see vote tally)
02/16/2007Enrolled
02/16/2007Bill text as passed House and Senate (HB2832ER)
02/16/2007Signed by Speaker
02/19/2007Signed by President
03/09/2007G Approved by Governor-Chapter 216 (effective 7/1/07)
03/14/2007G Acts of Assembly Chapter text (CHAP0216)