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2011 SESSION
HB 2366 Out-of-state trust institutions; any national bank to serve as trustee without office in State.
Introduced by: Timothy D. Hugo | all patrons ... notes | add to my profiles
SUMMARY AS PASSED: (all summaries)
Out-of-state trust institutions. Authorizes any national banking association that is supervised and regulated by the federal Comptroller of the Currency and is authorized by the Comptroller of the Currency to act as trustee, as executor, as administrator, or in another fiduciary capacity in the Commonwealth, to engage in the trust business in the Commonwealth. The measure codifies an opinion of the Attorney General that a statutory provision that bars out-of-state trust institutions without an office in the Commonwealth from engaging in trust business is preempted by § 92a of the National Bank Act to the extent it applies to national banks that are supervised and regulated by the Comptroller of the Currency.
FULL TEXT
- 01/12/11 House: Presented and ordered printed 11102588D pdf | impact statement
- 02/14/11 Senate: Committee substitute printed 11105268D-S1 pdf | impact statement
- 02/25/11 House: Bill text as passed House and Senate (HB2366ER) pdf | impact statement
- 03/14/11 Governor: Acts of Assembly Chapter text (CHAP0067) pdf
HISTORY
- 01/12/11 House: Presented and ordered printed 11102588D
- 01/12/11 House: Referred to Committee on Commerce and Labor
- 01/20/11 House: Assigned C & L sub: #2
- 01/20/11 House: Subcommittee recommends reporting (11-Y 0-N)
- 01/25/11 House: Reported from Commerce and Labor (22-Y 0-N)
- 01/27/11 House: Read first time
- 01/28/11 House: Read second time and engrossed
- 01/31/11 House: Read third time and passed House BLOCK VOTE (98-Y 0-N)
- 01/31/11 House: VOTE: BLOCK VOTE PASSAGE (98-Y 0-N)
- 02/01/11 Senate: Constitutional reading dispensed
- 02/01/11 Senate: Referred to Committee on Commerce and Labor
- 02/14/11 Senate: Reported from Commerce and Labor with substitute (15-Y 0-N)
- 02/14/11 Senate: Committee substitute printed 11105268D-S1
- 02/16/11 Senate: Constitutional reading dispensed (40-Y 0-N)
- 02/17/11 Senate: Read third time
- 02/17/11 Senate: Reading of substitute waived
- 02/17/11 Senate: Committee substitute agreed to 11105268D-S1
- 02/17/11 Senate: Engrossed by Senate - committee substitute HB2366S1
- 02/17/11 Senate: Passed Senate with substitute (39-Y 0-N)
- 02/18/11 House: Placed on Calendar
- 02/21/11 House: Senate substitute agreed to by House 11105268D-S1 (99-Y 0-N)
- 02/21/11 House: VOTE: ADOPTION (99-Y 0-N)
- 02/25/11 House: Enrolled
- 02/25/11 House: Bill text as passed House and Senate (HB2366ER)
- 02/26/11 House: Signed by Speaker
- 02/28/11 Senate: Signed by President
- 03/14/11 Governor: Approved by Governor-Chapter 67 (effective 7/1/11)
- 03/14/11 Governor: Acts of Assembly Chapter text (CHAP0067)