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ACROSS SESSIONS
- Subject Index: Since 1995
- Bills & Resolutions: Since 1994
- Summaries: Since 1994
Developed and maintained by the Division of Legislative Automated Systems.
1994 SESSION
HB 186 Trust companies; stock.
Introduced by: George H. Heilig, Jr. | all patrons ... notes | add to my profiles
SUMMARY:
Trust companies; stock. Relates to stock issued by trust companies. The bill prohibits the issue of no-par stock by a trust company. Additionally, all stock issued must be paid for in full before the trust company commences business. Moreover, the bill requires that stock options or stock purchase plans be adopted with the approval of the shareholders and after the trust company has opened for business. It further prohibits the use of paid agents to market the stock of an organizing trust company. Finally, the bill requires the SCC's prior approval for any trust company's reduction in capital, and it places restrictions on the payment of dividends.
FULL TEXT
- 01/14/94 House: Presented and ordered printed pdf
- 02/17/94 House: Bill text as passed House and Senate (HB186ER) pdf
- 03/04/94 Governor: Acts of Assembly Chapter text (CHAP0005) pdf
HISTORY
- 01/14/94 House: Presented and ordered printed
- 01/14/94 House: Referred to Committee on Corporations, Insurance and Banking
- 01/20/94 House: Reported from Corp., Ins. & Banking (22-Y 0-N)
- 01/21/94 House: Read first time
- 01/24/94 House: Read second time and engrossed
- 01/25/94 House: Read third time and passed House (Block Vote) (99-Y 0-N)
- 01/25/94 House: VOTE: BLOCK VOTE PASSAGE (99-Y 0-N)
- 01/25/94 House: Communicated to Senate
- 01/26/94 Senate: Read first time
- 01/26/94 Senate: Referred to Committee on Commerce and Labor
- 02/14/94 Senate: Reported from Commerce and Labor (10-Y 0-N)
- 02/15/94 Senate: Constitutional reading dispensed (39-Y 0-N)
- 02/15/94 Senate: VOTE: CONST. READING DISPENSED (39-Y 0-N)
- 02/16/94 Senate: Read third time
- 02/16/94 Senate: Passed Senate (38-Y 0-N)
- 02/16/94 Senate: VOTE: PASSAGE (38-Y 0-N)
- 02/17/94 House: Bill text as passed House and Senate (HB186ER)
- 02/23/94 House: Enrolled
- 02/23/94 House: Signed by Speaker
- 02/24/94 Senate: Signed by President
- 03/03/94 Governor: Approved by Governor-Chapter 5 (effective 7/1/94)
- 03/04/94 Governor: Acts of Assembly Chapter text (CHAP0005)