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2005 SESSION

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HB 2547 Fiduciaries; obligation to report nonresident status, penalty.

Introduced by: Marian Van Landingham | all patrons    ...    notes | add to my profiles | history

SUMMARY AS PASSED HOUSE:

Fiduciaries; obligation to report nonresident status; penalty. Requires a fiduciary to notify the clerk and commissioners of accounts when he no longer is a resident of Virginia, and to provide them with his new address, within 30 days after the change in residency. Failure to report the change in resident status and new address may result in imposition of a $50 civil penalty upon the fiduciary. This requirement does not apply to any fiduciary whose cofiduciary is a Virginia resident.

SUMMARY AS INTRODUCED:

Fiduciaries; obligation to report nonresident status; penalty. Requires a fiduciary to notify the clerk when he no longer is resident in Virginia within 30 days after the change in residency, and to give the clerk his new address. The clerk shall certify the same to the commissioner of accounts within 30 days after receiving notification from the fiduciary. Failure to report the change in resident status and address may result in imposition of a $150 civil penalty upon the fiduciary.