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2024 SESSION
SB 566 Trusts; release or ratification of trustee by beneficiary, response of beneficiary in writing.
Introduced by: R. Creigh Deeds | all patrons ... notes | add to my profiles
SUMMARY AS PASSED SENATE: (all summaries)
Trustees; settlement of accounts; notice and statements to beneficiaries; requirements. Provides that the beneficiary of a trust shall be deemed to have released a trustee and ratified all actions of a trustee for the administration of a trust if, when the trust terminates or the trustee ceases to serve, the trustee sends the beneficiary notice and the beneficiary does not object within 60 days after the trustee sent such notice. The bill also requires the trustee to provide to the beneficiary certain financial information related to the trust. This bill is identical to HB 678.
FULL TEXT
- 01/10/24 Senate: Prefiled and ordered printed; offered 01/10/24 24101324D pdf | impact statement
- 02/12/24 Senate: Committee substitute printed 24106625D-S1 pdf | impact statement
- 03/04/24 Senate: Bill text as passed Senate and House (SB566ER) pdf | impact statement
- 04/05/24 Governor: Acts of Assembly Chapter text (CHAP0600) pdf
AMENDMENTS
HISTORY
- 01/10/24 Senate: Prefiled and ordered printed; offered 01/10/24 24101324D
- 01/10/24 Senate: Referred to Committee for Courts of Justice
- 02/12/24 Senate: Reported from Courts of Justice with substitute (15-Y 0-N)
- 02/12/24 Senate: Committee substitute printed 24106625D-S1
- 02/13/24 Senate: Read second time
- 02/13/24 Senate: Reading of substitute waived
- 02/13/24 Senate: Committee substitute agreed to 24106625D-S1
- 02/13/24 Senate: Engrossed by Senate - committee substitute SB566S1
- 02/13/24 Senate: Constitutional reading dispensed (40-Y 0-N)
- 02/13/24 Senate: Passed Senate (40-Y 0-N)
- 02/13/24 Senate: Constitutional reading dispensed (40-Y 0-N)
- 02/16/24 House: Placed on Calendar
- 02/16/24 House: Read first time
- 02/16/24 House: Referred to Committee for Courts of Justice
- 02/23/24 House: Reported from Courts of Justice (21-Y 0-N)
- 02/27/24 House: Read second time
- 02/28/24 House: Read third time
- 02/28/24 House: Passed House BLOCK VOTE (97-Y 0-N)
- 02/28/24 House: VOTE: Block Vote Passage (97-Y 0-N)
- 03/04/24 Senate: Enrolled
- 03/04/24 Senate: Bill text as passed Senate and House (SB566ER)
- 03/04/24 House: Signed by Speaker
- 03/07/24 Senate: Signed by President
- 03/11/24 Senate: Enrolled Bill Communicated to Governor on March 11, 2024
- 03/11/24 Governor: Governor's Action Deadline 11:59 p.m., April 8, 2024
- 04/05/24 Governor: Approved by Governor-Chapter 600 (effective 7/1/24)
- 04/05/24 Governor: Acts of Assembly Chapter text (CHAP0600)