Virginia Senate Bill 293 (Prior Session Legislation)

---

Completed Legislative Action
Spectrum: Partisan Bill (Republican 1-0)
Status: Passed on March 10 2020 - 100% progression
Action: 2020-03-10 - Governor: Acts of Assembly Chapter text (CHAP0259)
Text: Latest bill text (Chaptered) [HTML]

Financial institutions; multiple-fiduciary accounts. Provides that financial institutions may enter into multiple-fiduciary accounts with more than one fiduciary to the same extent that they may enter into fiduciary accounts with one fiduciary. The measure defines "fiduciary account" as (i) an estate account for a decedent, (ii) an account established by one or more agents under a power of attorney or an existing account of a principal to which one or more agents under a power of attorney are added, (iii) an account established by one or more conservators, (iv) an account established by one or more committees, (v) a regular trust account under a testamentary trust or a trust agreement that has significance apart from the account, or (vi) an account arising from a fiduciary relationship such as an attorney-client relationship. The measure defines "multiple-fiduciary account" as a fiduciary account where more than one fiduciary is authorized to act. The measure also allows any multiple-fiduciary account to be paid, on request, to any one or more fiduciaries, including any successor fiduciary upon proof showing that the successor fiduciary is duly authorized to act, or at the direction of any one or more of the fiduciaries.

Financial institutions; multiple-fiduciary accounts.

Sen. Benton Chafin [R]

2020-02-21 - House - House: VOTE: Block Vote Passage (98-Y 0-N) (Y: 98 N: 0 NV: 2 Abs: 0) [PASS]
2020-02-18 - House - House: Reported from Labor and Commerce (21-Y 0-N) (Y: 21 N: 0 NV: 1 Abs: 0) [PASS]
2020-01-24 - Senate - Senate: Read third time and passed Senate (39-Y 0-N) (Y: 39 N: 0 NV: 1 Abs: 0) [PASS]
2020-01-22 - Senate - Senate: Constitutional reading dispensed (40-Y 0-N) (Y: 40 N: 0 NV: 0 Abs: 0) [PASS]
2020-01-20 - Senate - Senate: Reported from Commerce and Labor (15-Y 0-N) (Y: 15 N: 0 NV: 0 Abs: 0) [PASS]

Date	Chamber	Action
2020-03-10		Governor: Acts of Assembly Chapter text (CHAP0259)
2020-03-10		Governor: Approved by Governor-Chapter 259 (effective 7/1/20)
2020-03-03		Governor: Governor's Action Deadline 11:59 p.m., March 10, 2020
2020-03-03	Senate	Enrolled Bill Communicated to Governor on February 3, 2020
2020-02-26	Senate	Signed by President
2020-02-25	House	Signed by Speaker
2020-02-25	Senate	Bill text as passed Senate and House (SB293ER)
2020-02-25	Senate	Enrolled
2020-02-21	House	VOTE: Block Vote Passage (98-Y 0-N)
2020-02-21	House	Passed House BLOCK VOTE (98-Y 0-N)
2020-02-21	House	Read third time
2020-02-20	House	Read second time
2020-02-18	House	Reported from Labor and Commerce (21-Y 0-N)
2020-02-13	House	Referred to Committee on Labor and Commerce
2020-02-13	House	Read first time
2020-02-13	House	Placed on Calendar
2020-01-24	Senate	Read third time and passed Senate (39-Y 0-N)
2020-01-23	Senate	Read second time and engrossed
2020-01-22	Senate	Constitutional reading dispensed (40-Y 0-N)
2020-01-20	Senate	Reported from Commerce and Labor (15-Y 0-N)
2020-01-03	Senate	Referred to Committee on Commerce and Labor
2020-01-03	Senate	Prefiled and ordered printed; offered 01/08/20 20100127D

Chapter	Article	Section	Citation Type	Statute Text
6	2	604	(n/a)	See Bill Text
6	2	605	(n/a)	See Bill Text
6	2	612	(n/a)	See Bill Text
6	2	615.1	(n/a)	See Bill Text
6	2	616	(n/a)	See Bill Text

Type	Source
Summary	https://lis.virginia.gov/cgi-bin/legp604.exe?201+sum+SB293
Text	https://lis.virginia.gov/cgi-bin/legp604.exe?201+ful+SB293+hil
Text	https://lis.virginia.gov/cgi-bin/legp604.exe?201+ful+SB293ER+hil
Text	https://lis.virginia.gov/cgi-bin/legp604.exe?201+ful+CHAP0259+hil
Roll Call	https://lis.virginia.gov/cgi-bin/legp604.exe?201+vot+S02V0031+SB0293
Roll Call	https://lis.virginia.gov/cgi-bin/legp604.exe?201+vot+SV0119SB0293+SB0293
Roll Call	https://lis.virginia.gov/cgi-bin/legp604.exe?201+vot+SV0140SB0293+SB0293
Roll Call	https://lis.virginia.gov/cgi-bin/legp604.exe?201+vot+H14V0267+SB0293
Roll Call	https://lis.virginia.gov/cgi-bin/legp604.exe?201+vot+HV1188+SB0293