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2004 SESSION

• | print version

SB 542 Subsidiary trust companies and trust company holding companies; ownership.

Introduced by: Walter A. Stosch | all patrons    ...    notes | add to my profiles

SUMMARY AS INTRODUCED:

Banking and finance; subsidiary trust companies and trust company holding companies. Permits companies other than banks and bank holding companies to own nonvoting stock of trust subsidiaries. The requirement that a trust company holding company also control a securities-related company is eliminated. "Control" is defined as ownership of 25 percent or more of the voting stock of a trust company. The bill also authorizes acquisition of a Virginia trust company by any bank holding company or any company having a trust subsidiary as permitted by federal law or the law of another state.

FULL TEXT

• 01/14/04  Senate: Presented & ordered printed, prefiled 01/14/04 040447158  pdf | impact statement
• 03/22/04  Senate: Bill text as passed Senate and House (SB542ER)  pdf | impact statement
• 04/21/04  Governor: Acts of Assembly Chapter text (CHAP0781)  pdf

HISTORY

• 01/14/04  Senate: Presented & ordered printed, prefiled 01/14/04 040447158
• 01/14/04  Senate: Referred to Committee for Courts of Justice
• 01/21/04  Senate: Pursuant to S. Rule 20(j), rerefer. by C.J. (15-Y 0-N)
• 01/21/04  Senate: Rereferred to Commerce and Labor
• 02/02/04  Senate: Reported from Commerce and Labor (14-Y 0-N)
• 02/04/04  Senate: Constitutional reading dispensed (40-Y 0-N)
• 02/04/04  Senate: VOTE: CONST. RDG. DISPENSED R (40-Y 0-N)
• 02/05/04  Senate: Read second time and engrossed
• 02/06/04  Senate: Read third time and passed Senate (39-Y 0-N)
• 02/06/04  Senate: VOTE: PASSAGE R (39-Y 0-N)
• 02/06/04  Senate: Rec. of passage agreed to by Senate (39-Y 0-N)
• 02/06/04  Senate: VOTE: RECONSIDER R (39-Y 0-N)
• 02/06/04  Senate: Passed Senate (40-Y 0-N)
• 02/06/04  Senate: VOTE: PASSAGE R (40-Y 0-N)
• 02/06/04  Senate: Communicated to House
• 02/10/04  House: Placed on Calendar
• 02/10/04  House: Read first time
• 02/10/04  House: Referred to Committee on Commerce and Labor
• 02/24/04  House: Reported from Commerce and Labor (19-Y 3-N)
• 02/26/04  House: Read second time
• 02/27/04  House: Read third time
• 02/27/04  House: Passed House (79-Y 21-N)
• 02/27/04  House: VOTE: PASSAGE (79-Y 21-N)
• 03/22/04  Senate: Bill text as passed Senate and House (SB542ER)
• 03/23/04  Senate: Enrolled
• 03/24/04  Senate: Signed by President
• 03/24/04  House: Signed by Speaker
• 04/14/04  Governor: Approved by Governor-Chapter 781 (effective 7/1/04)
• 04/21/04  Governor: Acts of Assembly Chapter text (CHAP0781)