HB 842 Principal and Income Act; created.
Whittington W. Clement | all patrons    ...    notes
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Summary as enacted with Governor's Recommendation: (all summaries)
Uniform Principal and Income Act. Replaces the prior uniform act to reflect modern trust investment practices in the allocation of principal and income. The bill provides procedures for trustees administering estates in separating principal from income, and ensuring that the intention of the creator of the trust is the guiding principle for trustees.

The 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 983750152  pdf
12/22/98  House: Introduced bill reprinted 983750152  pdf
12/22/98  House: Committee substitute printed 992015152-H1  pdf
01/21/99  House: Printed as engrossed 992015152-EH1  pdf
02/24/99  House: Bill text as passed House and Senate (HB842ER)  pdf
04/07/99  House: Reenrolled bill text (HB842ER2)  pdf
04/14/99  Governor: Acts of Assembly Chapter text (CHAP0975)  pdf

Amendments:
House amendments
House amendments rejected
Senate amendments
Senate amendments engrossed
Governor's recommendation

Status:
01/26/98  House: Presented & ordered printed 983750152
01/26/98  House: Referred to Committee for Courts of Justice
02/02/98  House: Assigned to C. J. sub-committee: 2
02/05/98  House: Continued to 1999 in Courts of Justice (23-Y 0-N)
11/23/98  House: Reported from C. J. with substitute (21-Y 3-N)
12/22/98  House: Introduced bill reprinted 983750152
12/22/98  House: Committee substitute printed 992015152-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 992015152-H1
01/21/99  House: Amendments #1-3 by Mr. Clement agreed to
01/21/99  House: Amendments by Mr. Tate rejected
01/21/99  House: Amendments #4-8 by Mr. Clement agreed to
01/21/99  House: Title replaced
01/21/99  House: Engrossed by House - com. sub.w/amds. 992015152-EH1
01/21/99  House: Printed as engrossed 992015152-EH1
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/amd. (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 amendment waived
02/12/99  Senate: Committee amendment agreed to
02/12/99  Senate: Engrossed by Senate as amended
02/12/99  Senate: Passed Senate with amendment (39-Y 1-N)
02/12/99  Senate: VOTE: PASSAGE (39-Y 1-N)
02/15/99  House: Placed on Calendar
02/16/99  House: Senate amendments agreed to by House (98-Y 0-N)
02/16/99  House: VOTE: ADOPTION (98-Y 0-N)
02/24/99  House: Bill text as passed House and Senate (HB842ER)
02/26/99  House: Enrolled
02/26/99  House: Signed by Speaker
02/26/99  Senate: Signed by President
03/29/99  House: Governor's recommendation received by House
04/07/99  House: Placed on Calendar
04/07/99  House: House concurred in Gov. recomm. (Block Vote) (99-Y 0-N)
04/07/99  House: VOTE: BLOCK VOTE-ADOPTION (99-Y 0-N)
04/07/99  Senate: Senate concurred in Gov's recommendation (40-Y 0-N)
04/07/99  Senate: VOTE: (40-Y 0-N)
04/07/99  Senate: Rec. of Gov's recommendation agreed to (40-Y 0-N)
04/07/99  Senate: VOTE: (40-Y 0-N)
04/07/99  Senate: Senate concurred in Gov's recommendation (40-Y 0-N)
04/07/99  Senate: VOTE: (40-Y 0-N)
04/07/99  Governor: Governor's recommendation adopted
04/07/99  House: Reenrolled
04/07/99  House: Signed by Speaker as reenrolled
04/07/99  Senate: Signed by President as reenrolled
04/07/99  House: Enacted, Chapter 975 (effective 1/1/00)
04/07/99  House: Reenrolled bill text (HB842ER2)
04/14/99  Governor: Acts of Assembly Chapter text (CHAP0975)