Trust institutions; entities authorized to engage in trust business in State includes out-of-state. (HB1168)

Introduced By

Del. Don Merricks (R-Danville)


Passed Committee
Passed House
Passed Senate
Signed by Governor
Became Law


Trust institutions.  Provides that an out-of-state trust institution may engage in a trust business in the Commonwealth if it maintains a trust office or a branch in the Commonwealth or is a national bank or federal savings bank that is supervised and regulated by the federal Comptroller of the Currency and is authorized to serve in a fiduciary capacity pursuant to the National Bank Act or the Home Owners' Loan Act. Read the Bill »


Bill Has Passed


01/17/2012Presented and ordered printed 12104200D
01/17/2012Referred to Committee on Commerce and Labor
01/19/2012Assigned C & L sub: #2
01/24/2012Impact statement from SCC (HB1168)
02/02/2012Subcommittee recommends reporting with amendment(s) (10-Y 0-N)
02/07/2012Reported from Commerce and Labor with substitute (22-Y 0-N) (see vote tally)
02/07/2012Committee substitute printed 12104554D-H1
02/09/2012Read first time
02/09/2012Impact statement from SCC (HB1168H1)
02/10/2012Read second time
02/10/2012Committee substitute agreed to 12104554D-H1
02/10/2012Engrossed by House - committee substitute HB1168H1
02/13/2012Read third time and passed House BLOCK VOTE (98-Y 0-N)
02/13/2012VOTE: BLOCK VOTE PASSAGE (98-Y 0-N) (see vote tally)
02/14/2012Constitutional reading dispensed
02/14/2012Referred to Committee on Commerce and Labor
02/20/2012Reported from Commerce and Labor (16-Y 0-N) (see vote tally)
02/22/2012Constitutional reading dispensed (39-Y 0-N) (see vote tally)
02/23/2012Read third time
02/23/2012Passed Senate (40-Y 0-N) (see vote tally)
02/29/2012Bill text as passed House and Senate (HB1168ER)
02/29/2012Impact statement from SCC (HB1168ER)
02/29/2012Signed by Speaker
03/01/2012Signed by President
04/04/2012G Approved by Governor-Chapter 608 (effective 7/1/12)
04/04/2012G Acts of Assembly Chapter text (CHAP0608)


This bill was discussed on the floor of the General Assembly. Below is all of the video that we have of that discussion, 1 clip in all, totaling 50 seconds.