HB 841 Prudent Investor Act; created.
Whittington W. Clement | all patrons    ...    notes
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Summary as passed House: (all summaries)
Uniform Prudent Investor Act. Adopts the uniform act, which is intended to facilitate reasonable investment practices by trustees. The bill adopts a standard of prudence which is applied to an investment as part of a total portfolio rather than to the individual investment; makes the fiduciary’s central consideration an evaluation of risk versus return; allows investment in anything that meets the requirements of prudent investing; recognizes the need for diversification; and allows delegation of investment and management functions.

This bill is recommended by the Virginia Commissioners to the National Conference of Commissioners on Uniform State Laws.

Full text:
01/26/98  House: Presented & ordered printed 983751152  pdf
12/22/98  House: Introduced bill reprinted 983751152  pdf
12/22/98  House: Committee substitute printed 992016512-H1  pdf
02/24/99  House: Bill text as passed House and Senate (HB841ER)  pdf
04/08/99  Governor: Acts of Assembly Chapter text (CHAP0772)  pdf

Amendments:
Senate amendments
Senate amendments engrossed

Status:
01/26/98  House: Presented & ordered printed 983751152
01/26/98  House: Referred to Committee on General Laws
01/27/98  House: Assigned to General Laws sub-committee: 5
02/05/98  House: Reported from General Laws (26-Y 0-N)
02/05/98  House: Referred to Committee for Courts of Justice
02/09/98  House: Assigned to C. J. sub-committee: 2
02/12/98  House: Continued to 1999 in Courts of Justice (24-Y 0-N)
11/23/98  House: Reported from C. J. with substitute (20-Y 4-N)
12/22/98  House: Introduced bill reprinted 983751152
12/22/98  House: Committee substitute printed 992016512-H1
01/14/99  House: Read first time
01/15/99  House: Passed by for the day
01/18/99  House: Passed by for the day
01/19/99  House: Passed by for the day
01/20/99  House: Passed by for the day
01/21/99  House: Read second time
01/21/99  House: Committee substitute agreed to 992016512-H1
01/21/99  House: Engrossed by House - com. sub. 992016512-H1
01/22/99  House: Passed by for the day
01/25/99  House: Read third time and passed House (92-Y 7-N)
01/25/99  House: VOTE: PASSAGE (92-Y 7-N)
01/25/99  House: Communicated to Senate
01/26/99  Senate: Constitutional reading dispensed
01/26/99  Senate: Referred to Committee for Courts of Justice
02/09/99  Senate: Assigned to C. J. sub-committee: Civil Law
02/10/99  Senate: Reported from Courts of Justice w/amds. (13-Y 1-N)
02/11/99  Senate: Constitutional reading dispensed (39-Y 0-N)
02/11/99  Senate: VOTE: CONST. RDG. DISPENSED R (39-Y 0-N)
02/12/99  Senate: Read third time
02/12/99  Senate: Reading of amendments waived
02/12/99  Senate: Committee amendments agreed to
02/12/99  Senate: Engrossed by Senate as amended
02/12/99  Senate: Passed Senate with amendments (38-Y 1-N)
02/12/99  Senate: VOTE: PASSAGE (38-Y 1-N)
02/15/99  House: Placed on Calendar
02/16/99  House: Senate amendments agreed to by House (97-Y 0-N)
02/16/99  House: VOTE: ADOPTION (97-Y 0-N)
02/24/99  House: Bill text as passed House and Senate (HB841ER)
02/26/99  House: Enrolled
02/26/99  House: Signed by Speaker
02/26/99  Senate: Signed by President
03/28/99  Governor: Approved by Governor-Chapter 772 (effective 1/1/00)
04/08/99  Governor: Acts of Assembly Chapter text (CHAP0772)