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2020 SESSION
HB 155 Banks; trust subsidiaries.
Introduced by: Mark D. Sickles | all patrons ... notes | add to my profiles
SUMMARY AS INTRODUCED:
Banks; trust subsidiaries. Establishes a mechanism by which a subsidiary bank of a Virginia bank holding company that holds trust powers may be substituted in every fiduciary capacity for a trust subsidiary under common ownership with that bank. Such mechanism follows the existing procedures by which (i) a subsidiary bank may be substituted as fiduciary for another bank under common ownership and (ii) a trust subsidiary may be substituted as fiduciary for an owning or affiliated bank. In each case, the determination as to whether the application for substitution will be granted is made by the circuit court of the jurisdiction in which the main office of the petitioning bank or trust subsidiary is located.
FULL TEXT
- 12/20/19 House: Prefiled and ordered printed; offered 01/08/20 20101596D pdf | impact statement
- 02/25/20 House: Bill text as passed House and Senate (HB155ER) pdf | impact statement
- 03/10/20 Governor: Acts of Assembly Chapter text (CHAP0239) pdf
HISTORY
- 12/20/19 House: Prefiled and ordered printed; offered 01/08/20 20101596D
- 12/20/19 House: Referred to Committee on Labor and Commerce
- 01/23/20 House: Reported from Labor and Commerce (20-Y 0-N)
- 01/27/20 House: Read first time
- 01/28/20 House: Passed by temporarily
- 01/28/20 House: Read second time and engrossed
- 01/29/20 House: Read third time and passed House BLOCK VOTE (98-Y 0-N)
- 01/29/20 House: VOTE: (98-Y 0-N)
- 01/30/20 Senate: Constitutional reading dispensed
- 01/30/20 Senate: Referred to Committee on Commerce and Labor
- 02/17/20 Senate: Reported from Commerce and Labor (15-Y 0-N)
- 02/19/20 Senate: Constitutional reading dispensed (39-Y 0-N)
- 02/20/20 Senate: Read third time
- 02/20/20 Senate: Passed Senate (40-Y 0-N)
- 02/25/20 House: Enrolled
- 02/25/20 House: Bill text as passed House and Senate (HB155ER)
- 02/25/20 House: Signed by Speaker
- 02/26/20 Senate: Signed by President
- 03/03/20 House: Enrolled Bill communicated to Governor on March 3, 2020
- 03/03/20 Governor: Governor's Action Deadline 11:59 p.m., March 10, 2020
- 03/10/20 Governor: Approved by Governor-Chapter 239 (effective 7/1/20)
- 03/10/20 Governor: Acts of Assembly Chapter text (CHAP0239)