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1996 SESSION

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HB 488 Trusts; modification, reformation, termination.

Introduced by: Alan A. Diamonstein (by request) | all patrons    ...    notes | add to my profiles

SUMMARY:

Trusts; modification, reformation, termination. Eliminates all references to "reformation" and substitutes the term "modification." The bill would prohibit termination of a trust (i) in violation of a spendthrift provision unless continuation would not be economical or otherwise contrary to the creator's intent, (ii) where to do so would frustrate the trustor's intent or (iii) automatically because the trust principal is $25,000 or less.

FULL TEXT

• 01/18/96  House: Presented & ordered printed 962221204  pdf
• 02/06/96  House: Printed as engrossed 962221204-E  pdf
• 03/21/96  House: Bill text as passed House and Senate (HB488ER)  pdf
• 04/17/96  Governor: Acts of Assembly Chapter text (CHAP0839)  pdf

AMENDMENTS

• House amendments
• Conference amendments

HISTORY

• 01/18/96  House: Presented & ordered printed 962221204
• 01/18/96  House: Referred to Committee for Courts of Justice
• 01/22/96  House: Assigned to C. J. sub-committee: 2
• 02/02/96  House: Reported from C. J. with amendment (22-Y 0-N)
• 02/05/96  House: Read first time
• 02/06/96  House: Read second time
• 02/06/96  House: Committee amendment agreed to
• 02/06/96  House: Amendment by Mr. Diamonstein agreed to
• 02/06/96  House: Title replaced
• 02/06/96  House: Engrossed by House as amended
• 02/06/96  House: Printed as engrossed 962221204-E
• 02/07/96  House: Read third time and passed House (Block Vote) (100-Y 0-N)
• 02/07/96  House: VOTE: BLOCK VOTE PASSAGE (100-Y 0-N)
• 02/07/96  House: Communicated to Senate
• 02/08/96  Senate: Read first time
• 02/08/96  Senate: Referred to Committee for Courts of Justice
• 02/13/96  Senate: Assigned to C. J. sub-committee: Wills/Trusts/Estates
• 02/26/96  Senate: Reported from Courts of Justice w/amds. (15-Y 0-N)
• 02/27/96  Senate: Constitutional reading dispensed (40-Y 0-N)
• 02/27/96  Senate: VOTE: CONST. READING DISPENSED (40-Y 0-N)
• 02/28/96  Senate: Read third time
• 02/28/96  Senate: Reading of amendments waived
• 02/28/96  Senate: Committee amendments agreed to
• 02/28/96  Senate: Passed by for the day
• 02/29/96  Senate: Read third time
• 02/29/96  Senate: Engrossed by Senate as amended
• 02/29/96  Senate: Passed Senate with amendments (39-Y 0-N)
• 02/29/96  Senate: VOTE: PASSAGE (39-Y 0-N)
• 02/29/96  Senate: Rec. of passage agreed to by Senate (39-Y 0-N)
• 02/29/96  Senate: VOTE: RECONSIDER (39-Y 0-N)
• 02/29/96  Senate: Passed Senate with amendments (40-Y 0-N)
• 02/29/96  Senate: VOTE: PASSAGE (40-Y 0-N)
• 03/01/96  House: Placed on Calendar
• 03/04/96  House: Senate amendments rejected by House (3-Y 95-N)
• 03/04/96  House: VOTE: ADOPTION (3-Y 95-N)
• 03/06/96  Senate: Senate insisted on amendments (40-Y 0-N)
• 03/06/96  Senate: VOTE: INSIST & REQUEST (40-Y 0-N)
• 03/06/96  Senate: Senate requested conference committee
• 03/07/96  House: House acceded to request
• 03/07/96  House: Conferees appointed by House
• 03/07/96  House: Delegates: Bennett, Clement, Fisher
• 03/07/96  Senate: Conferees appointed by Senate
• 03/07/96  Senate: Senators: Benedetti, Reasor, Goode
• 03/09/96  Senate: Reading of conference report waived
• 03/09/96  Senate: Conference report agreed to by Senate (39-Y 0-N)
• 03/09/96  Senate: VOTE: ADOPT CONFERENCE REPORT (39-Y 0-N)
• 03/09/96  Conference: Senate amendments rejected by conference committee
• 03/09/96  Conference: Amended by conference committee
• 03/09/96  House: Conference report agreed to by House (97-Y 0-N)
• 03/09/96  House: VOTE: ADOPTION (97-Y 0-N)
• 03/21/96  House: Bill text as passed House and Senate (HB488ER)
• 03/27/96  House: Enrolled
• 03/29/96  House: Signed by Speaker
• 03/30/96  Senate: Signed by President
• 04/08/96  Governor: Approved by Governor-Chapter 839 (effective 7/1/96)
• 04/17/96  Governor: Acts of Assembly Chapter text (CHAP0839)