2012 SESSION

Convened January 11, 2012
Adjourned sine die March 10, 2012
Reconvened April 18, 2012
Adjourned sine die April 18, 2012

FIDUCIARIES GENERALLY

(P) Passed (F) Failed (V) Vetoed (I) Incoporated into other legislation

(C) Carried over

Cemeteries; allocation of perpetual care trust fund. Amending § 54.1-2322. (Patron-Stuart, SB 638 (Chapter 355))

Commissioners of accounts; certified public accountants may serve thereas. Amending §§ 26-8, 26-10, and 26-10.1. (Patron-Ruff, SB 422 (F))

Court distributions; increases amount of money or property that a court may distribute. Amending § 8.01-606. (Patron-Kilgore, HB 134 (Chapter 43))

Foreclosure procedures; assignment of deed of trust. Amending §§ 26-15, 55-59.1, and 55-66.01; adding §§ 55-59.5 and 55-59.6. (Patron-Marshall, R.G., HB 28 (F))

Grantor trusts; prohibits creditors from compelling trustee to exercise his discretionary authority to pay income taxes on trust income. Amending §§ 55-277.26 and 55-545.05. (Patron-Stuart, SB 432 (Chapter 718))

Power of attorney; embezzlement by agent, penalty. Amending §§ 26-88 and 26-94. (Patron-Kilgore, HB 713 (F); Edwards, SB 108 (C))

Power of attorney; termination. Amending § 26-81. (Patron-Surovell, HB 677 (Chapter 57))

Self-settled spendthrift trusts; provides for creation of trusts which protect trust assets against claims of settlor who is also a trust beneficiary. Amending § 55-545.05; adding §§ 55-545.03:2 and 55-545.03:3. (Patron-Stuart, SB 11 (Chapter 555))

Trust institutions; entities authorized to engage in a trust business in State, which includes those out-of-state and any national bank or federal savings bank. Amending §§ 6.2-1001, 6.2-1014, and 6.2-1067. (Patron-Merricks, HB 1168 (Chapter 608))

Uniform Power of Attorney Act; liability of agent, penalty. Amending §§ 26-88 and 26-94. (Patron-Kilgore, HB 125 (F))

Wills, trusts, and fiduciaries; revising and recodifying laws, revision of Title 64.1. Adding §§ 2.2-4519, 64.2-100 through 64.2-108, 64.2-200 through 64.2-620, 64.2-700 through 64.2-1108, 64.2-1200 through 64.2-2120, and 64.2-2200 through 64.2-2704; repealing §§ 26-1 through 26-116, 31-1 through 31-59, 37.2-1000 through 37.2-1030, 37.2-1031 through 37.2-1052, 55-34.1 through 55-34.19, 55-268.11 through 55-268.20, 55-277.1 through 55-277.33, 55-278 through 55-286.2, 55-401 through 55-415, 55-541.01 through 55-551.06, and 64.1-01 through 64.1-206.8. (Patron-McDougle, SB 115 (Chapter 614))