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2020 SESSION
SB 253 Deeds of trust; fiduciary duties.
Introduced by: A. Benton "Ben" Chafin | all patrons ... notes | add to my profiles
SUMMARY AS PASSED SENATE: (all summaries)
Deeds of trust; fiduciary duties. Specifies that a trustee under a deed of trust has only the duties, rights, and obligations imposed and conferred on it by the deed of trust or by statute. The bill further requires that a trustee shall comply with all restrictive covenants regarding the affordability of the property and that a trustee under a deed of trust is a fiduciary for both the debtor and the creditor. This bill is in response to Crosby v. ALG Trustee, LLC, 296 Va. 561 (2018).
FULL TEXT
- 01/02/20 Senate: Prefiled and ordered printed; offered 01/08/20 20102906D pdf
- 01/29/20 Senate: Committee substitute printed 20106654D-S1 pdf
AMENDMENTS
HISTORY
- 01/02/20 Senate: Prefiled and ordered printed; offered 01/08/20 20102906D
- 01/02/20 Senate: Referred to Committee on the Judiciary
- 01/08/20 Senate: Moved from Courts of Justice to Judiciary due to a change of the committee name
- 01/16/20 Senate: Assigned Judiciary sub: Civil Law
- 01/29/20 Senate: Reported from Judiciary with substitute (8-Y 5-N 1-A)
- 01/29/20 Senate: Committee substitute printed 20106654D-S1
- 01/31/20 Senate: Constitutional reading dispensed (37-Y 0-N)
- 02/03/20 Senate: Passed by for the day
- 02/04/20 Senate: Passed by for the day
- 02/05/20 Senate: Read second time
- 02/05/20 Senate: Reading of substitute waived
- 02/05/20 Senate: Committee substitute agreed to 20106654D-S1
- 02/05/20 Senate: Reading of amendments waived
- 02/05/20 Senate: Amendments by Senator Petersen agreed to (20-Y 20-N)
- 02/05/20 Senate: Chair votes Yes
- 02/05/20 Senate: Passed by for the day
- 02/06/20 Senate: Amendments by Senator Petersen reconsidered (40-Y 0-N)
- 02/06/20 Senate: Passed by for the day
- 02/07/20 Senate: Passed by for the day
- 02/10/20 Senate: Read second time
- 02/10/20 Senate: Reading of amendments waived
- 02/10/20 Senate: Amendments by Senator Petersen rejected (18-Y 21-N)
- 02/10/20 Senate: Engrossed by Senate - committee substitute SB253S1
- 02/11/20 Senate: Read third time and passed Senate (26-Y 13-N)
- 02/11/20 Senate: Reconsideration of passage agreed to by Senate (40-Y 0-N)
- 02/11/20 Senate: Passed Senate (27-Y 12-N)
- 02/14/20 House: Placed on Calendar
- 02/14/20 House: Read first time
- 02/14/20 House: Referred to Committee for Courts of Justice
- 02/27/20 House: Assigned Courts sub: Civil
- 02/28/20 House: Subcommittee recommends continuing to 2021 by voice vote
- 02/28/20 House: Continued to 2021 in Courts of Justice by voice vote