HB 488 Trusts; modification, reformation, termination.
Alan A. Diamonstein (by request) | all patrons    ...    notes
| add to my profiles

Summary:
Trusts; modification, reformation, termination. Eliminates all references to "reformation" and substitutes the term "modification." The bill would prohibit termination of a trust (i) in violation of a spendthrift provision unless continuation would not be economical or otherwise contrary to the creator's intent, (ii) where to do so would frustrate the trustor's intent or (iii) automatically because the trust principal is $25,000 or less.

Full text:
01/18/96  House: Presented & ordered printed 962221204  pdf
02/06/96  House: Printed as engrossed 962221204-E  pdf
03/21/96  House: Bill text as passed House and Senate (HB488ER)  pdf
04/17/96  Governor: Acts of Assembly Chapter text (CHAP0839)  pdf

Amendments:
House amendments
Conference amendments

Status:
01/18/96  House: Presented & ordered printed 962221204
01/18/96  House: Referred to Committee for Courts of Justice
01/22/96  House: Assigned to C. J. sub-committee: 2
02/02/96  House: Reported from C. J. with amendment (22-Y 0-N)
02/05/96  House: Read first time
02/06/96  House: Read second time
02/06/96  House: Committee amendment agreed to
02/06/96  House: Amendment by Mr. Diamonstein agreed to
02/06/96  House: Title replaced
02/06/96  House: Engrossed by House as amended
02/06/96  House: Printed as engrossed 962221204-E
02/07/96  House: Read third time and passed House (Block Vote) (100-Y 0-N)
02/07/96  House: VOTE: BLOCK VOTE PASSAGE (100-Y 0-N)
02/07/96  House: Communicated to Senate
02/08/96  Senate: Read first time
02/08/96  Senate: Referred to Committee for Courts of Justice
02/13/96  Senate: Assigned to C. J. sub-committee: Wills/Trusts/Estates
02/26/96  Senate: Reported from Courts of Justice w/amds. (15-Y 0-N)
02/27/96  Senate: Constitutional reading dispensed (40-Y 0-N)
02/27/96  Senate: VOTE: CONST. READING DISPENSED (40-Y 0-N)
02/28/96  Senate: Read third time
02/28/96  Senate: Reading of amendments waived
02/28/96  Senate: Committee amendments agreed to
02/28/96  Senate: Passed by for the day
02/29/96  Senate: Read third time
02/29/96  Senate: Engrossed by Senate as amended
02/29/96  Senate: Passed Senate with amendments (39-Y 0-N)
02/29/96  Senate: VOTE: PASSAGE (39-Y 0-N)
02/29/96  Senate: Rec. of passage agreed to by Senate (39-Y 0-N)
02/29/96  Senate: VOTE: RECONSIDER (39-Y 0-N)
02/29/96  Senate: Passed Senate with amendments (40-Y 0-N)
02/29/96  Senate: VOTE: PASSAGE (40-Y 0-N)
03/01/96  House: Placed on Calendar
03/04/96  House: Senate amendments rejected by House (3-Y 95-N)
03/04/96  House: VOTE: ADOPTION (3-Y 95-N)
03/06/96  Senate: Senate insisted on amendments (40-Y 0-N)
03/06/96  Senate: VOTE: INSIST & REQUEST (40-Y 0-N)
03/06/96  Senate: Senate requested conference committee
03/07/96  House: House acceded to request
03/07/96  House: Conferees appointed by House
03/07/96  House: Delegates: Bennett, Clement, Fisher
03/07/96  Senate: Conferees appointed by Senate
03/07/96  Senate: Senators: Benedetti, Reasor, Goode
03/09/96  Senate: Reading of conference report waived
03/09/96  Senate: Conference report agreed to by Senate (39-Y 0-N)
03/09/96  Senate: VOTE: ADOPT CONFERENCE REPORT (39-Y 0-N)
03/09/96  Conference: Senate amendments rejected by conference committee
03/09/96  Conference: Amended by conference committee
03/09/96  House: Conference report agreed to by House (97-Y 0-N)
03/09/96  House: VOTE: ADOPTION (97-Y 0-N)
03/21/96  House: Bill text as passed House and Senate (HB488ER)
03/27/96  House: Enrolled
03/29/96  House: Signed by Speaker
03/30/96  Senate: Signed by President
04/08/96  Governor: Approved by Governor-Chapter 839 (effective 7/1/96)
04/17/96  Governor: Acts of Assembly Chapter text (CHAP0839)