2001 Regular Session

HOUSE BILL 574

CHAPTER NUMBER: 669 File Code: Estates and Trusts Prior Year Introduction As: HB 598/00 - JUD Crossfiled with: SENATE BILL 585
Sponsored By:
Delegates Doory, Taylor, Dobson, Kirk, McIntosh, Montague, and Wood
Entitled:
Estates and Trusts - Corporate Fiduciaries and Successor Corporate Fiduciaries - Qualifications and Liabilities

Synopsis:

Authorizing a corporate fiduciary to attribute to its capital and surplus, for purposes of qualifying as a fiduciary with respect to a capital requirement, the capital and surplus of a corporation with its principal offices in the State if the corporate fiduciary is a trust company and a wholly owned subsidiary of the corporation; and making such a corporation jointly and severally liable with a successor corporate fiduciary.

History by Legislative Date

House Action
2/5
First Reading Judiciary
2/13
Hearing 3/2 at 1:00 p.m.
3/12
Favorable Report by Judiciary
3/13
Favorable Report Adopted
Floor Committee Amendment Adopted
Second Reading Passed with Amendments
3/15
Third Reading Passed (137-0)
4/3
House Concur - Senate Amendments
Third Reading Passed (138-0)
Passed Enrolled
5/18
Signed by the Governor Chapter 669
Senate Action
3/16
First Reading Judicial Proceedings
4/5
Favorable with Amendments Report by Judicial Proceedings
4/2
Favorable with Amendments Report Adopted
Second Reading Passed with Amendments
4/3
Third Reading Passed with Amendments (47-0)
Sponsored by:
Delegate Ann Marie Doory, District 43
Delegate Michael V. Dobson, District 43
Delegate Ruth M. Kirk, District 44
Delegate Maggie L. McIntosh, District 42
Delegate Kenneth C. Montague, Jr., District 43
Delegate Casper R. Taylor, Jr., District 1C
Delegate John F. Wood, Jr., District 29A
Bill indexed under the following Subjects:
BANKS AND TRUST COMPANIES
CORPORATIONS -see also- MUNICIPAL CORPORATIONS
FIDUCIARIES
LIABILITY -see also- GOOD SAMARITAN
Bill affects the following Statutes:
Estates and Trusts
( 15-1A-01 , 15-1A-03 , 15-1A-04 )

Documents:

Bill Text: First Reading (PDF), Third Reading (PDF), Enrolled (PDF)
Fiscal Note: Available (PDF)
Amendments:
House
Number: 492813/1 (PDF)     Offered on: March 13, 2001   at: 11:29 a.m.     Status: Adopted
Senate
Number: 548970/1 (PDF)     Offered on: April 5, 2001   at: 8:38 p.m.     Status: Adopted
Roll Call Votes (Legislative dates are shown):
House
March 15, 2001: Third Reading Passed (137-0)
April 3, 2001: Third Reading Passed (138-0)
Senate
April 3, 2001: Third Reading Passed (47-0)