Self-settled spendthrift trusts; certain legal entities to act as qualified trustee. (HB1448)
Introduced By
Del. Jason Miyares (R-Virginia Beach)
Progress
✓ |
Introduced |
✗ |
Passed Committee |
✓ |
Passed House |
☐ |
Passed Senate |
☐ |
Signed by Governor |
☐ |
Became Law |
Description
Qualified trustee of self-settled spendthrift trusts. Allows any legal entity authorized by law to act as a trustee to serve as a qualified trustee of a self-settled spendthrift trust. Under current law, only a natural person who resides in the Commonwealth or a legal entity authorized to engage in trust business (i.e., a bank or trust company) may serve as a qualified trustee. The bill would expand the definition of "independent qualified trustee" and "qualified trustee" to include entities such as law firms and charitable organizations, when such entities are authorized by law to act as trustees. Read the Bill »
Outcome
History
Date | Action |
---|---|
12/01/2016 | Committee |
12/01/2016 | Prefiled and ordered printed; offered 01/11/17 17100557D |
12/01/2016 | Referred to Committee for Courts of Justice |
01/13/2017 | Assigned Courts sub: Civil Law |
01/16/2017 | Subcommittee recommends reporting with amendment (10-Y 0-N) |
01/20/2017 | Reported from Courts of Justice with amendment (21-Y 0-N) (see vote tally) |
01/24/2017 | Read first time |
01/25/2017 | Read second time |
01/25/2017 | Committee amendment agreed to |
01/25/2017 | Engrossed by House as amended HB1448E |
01/25/2017 | Printed as engrossed 17100557D-E |
01/26/2017 | Read third time and passed House BLOCK VOTE (99-Y 0-N) |
01/26/2017 | VOTE: BLOCK VOTE PASSAGE (99-Y 0-N) (see vote tally) |
01/27/2017 | Constitutional reading dispensed |
01/27/2017 | Referred to Committee for Courts of Justice |
02/15/2017 | Passed by indefinitely in Courts of Justice (11-Y 3-N 1-A) (see vote tally) |
Video
This bill was discussed on the floor of the General Assembly. Below is all of the video that we have of that discussion, 1 clip in all, totaling 30 seconds.
Transcript
This is a transcript of the video clips in which this bill is discussed.
AYE, 97, NO, TWO. HOUSE BILL 2077 A BILL TO AMEND AND REENACT A SECTION OF THE CODE OF VIRGINIA RELATED TO EMERGENCY SERVICES AND DISASTER LAWS 2000. FIREARMS, EMERGENCY SHELTER.