Trusts; release or ratification of trustee by beneficiary, response of beneficiary in writing. (HB678)

Introduced By

Del. Jay Leftwich (R-Chesapeake)

Progress

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

Description

Trustees; settlement of accounts; notice and statements to beneficiaries; requirements. Provides that the beneficiary of a trust shall be deemed to have released a trustee and ratified all actions of a trustee for the administration of a trust if, when the trust terminates or the trustee ceases to serve, the trustee sends the beneficiary notice and the beneficiary does not object within 60 days after the trustee sent such notice. The bill also requires the trustee to provide to the beneficiary certain financial information related to the trust. This bill is identical to SB 566. Read the Bill »

Outcome

Bill Has Passed

History

DateAction
01/09/2024Committee
01/09/2024Prefiled and ordered printed; offered 01/10/24 24101335D
01/09/2024Referred to Committee for Courts of Justice
01/19/2024Assigned Courts sub: Civil
01/25/2024Assigned Courts sub: Civil
01/29/2024House subcommittee amendments and substitutes offered
01/29/2024Subcommittee recommends reporting with substitute (7-Y 1-N)
02/01/2024Impact statement from SCC (HB678)
02/02/2024Reported from Courts of Justice with substitute (21-Y 0-N) (see vote tally)
02/02/2024Committee substitute printed 24106497D-H1
02/06/2024Read first time
02/07/2024Read second time
02/07/2024Committee substitute agreed to 24106497D-H1
02/07/2024Engrossed by House - committee substitute HB678H1
02/08/2024Read third time and passed House BLOCK VOTE (98-Y 0-N)
02/08/2024VOTE: Block Vote Passage (98-Y 0-N) (see vote tally)
02/09/2024Constitutional reading dispensed
02/09/2024Referred to Committee for Courts of Justice
02/16/2024Impact statement from SCC (HB678H1)
02/19/2024Senate committee, floor amendments and substitutes offered
02/19/2024Reported from Courts of Justice with amendments (12-Y 0-N) (see vote tally)
02/20/2024Read third time
02/20/2024Constitutional reading dispensed (39-Y 0-N) (see vote tally)
02/21/2024Read third time
02/21/2024Reading of amendments waived
02/21/2024Committee amendments agreed to
02/21/2024Engrossed by Senate as amended
02/21/2024Passed Senate with amendments (40-Y 0-N) (see vote tally)
02/23/2024Senate amendment agreed to by House (96-Y 0-N)
02/23/2024VOTE: Adoption (96-Y 0-N) (see vote tally)
02/28/2024Enrolled
02/28/2024Bill text as passed House and Senate (HB678ER)
02/28/2024Signed by Speaker
03/02/2024Signed by President
03/05/2024Impact statement from SCC (HB678ER)
03/11/2024Enrolled Bill communicated to Governor on March 11, 2024
03/11/2024G Governor's Action Deadline 11:59 p.m., April 8, 2024
04/04/2024G Approved by Governor-Chapter 446 (effective 7/1/24)
04/04/2024G Acts of Assembly Chapter text (CHAP0446)

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