Fabio
77 lines
3.8 KiB
Markdown
77 lines
3.8 KiB
Markdown
---
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type: "Bill"
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title: "Banks; stock ownership by directors."
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description: "Provides that a bank director is deemed to be the sole owner of shares in the bank that are deposited by the director in a living trust, or inter vivos trust, as to which the director is a trustee and retains an absolute power of revocation. Currently, a director is deemed to be the sole owner of shares that are deposited in such a trust only if the director is the sole trustee of the trust. This bill is identical to"
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jurisdiction: "us/states/va"
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legislature: "Virginia General Assembly"
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session: "2018"
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identifier: "SB 260"
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citation: "Virginia SB 260 (2018)"
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classification: ["bill"]
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subjects: ["Financial Institutions and Services"]
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status: "enacted"
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primary_sponsors: ["Richard H. Stuart"]
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version_count: 2
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action_count: 15
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vote_count: 5
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first_action: "2018-01-05"
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last_action: "2018-03-02"
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source: "openstates"
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source_identifier: "ocd-bill/81aed316-c945-435d-a4ec-8c8534ac445f"
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source_url: "http://lis.virginia.gov/cgi-bin/legp604.exe?181+sum+SB260"
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source_hash: "2181d8022d5b25dc41a99e4f8bdbbf85adfe31c18e877963a818b1647ae73e42"
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vintage: "2026-07-01"
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source_snapshot: "https://data.openstates.org/daily/2026-07-01/public.pgdump"
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retrieved_at: "2026-07-06"
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confidence: "reported"
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tags: ["legislation", "bill", "us-va"]
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---
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# Virginia SB 260 (2018) — Banks; stock ownership by directors.
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Provides that a bank director is deemed to be the sole owner of shares in the bank that are deposited by the director in a living trust, or inter vivos trust, as to which the director is a trustee and retains an absolute power of revocation. Currently, a director is deemed to be the sole owner of shares that are deposited in such a trust only if the director is the sole trustee of the trust. This bill is identical to
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## Version chain
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The bill's text revisions, in order — the diff chain from filing to enrollment.
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1. **Senate: Bill text as passed Senate and House (SB260ER)** (committee substitute) — [source](http://lis.virginia.gov/cgi-bin/legp604.exe?181+ful+SB260ER)
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2. **Senate: Prefiled and ordered printed; offered 01/10/18 18102236D** (committee substitute) — [source](http://lis.virginia.gov/cgi-bin/legp604.exe?181+ful+SB260)
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## Votes
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- Reported from Commerce and Labor — **15–0** (pass) · legislature
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- Constitutional reading dispensed — **40–0** (pass) · legislature
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- Read third time and passed Senate — **39–0** (pass) · legislature
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- Passed House BLOCK VOTE — **100–0** (pass) · legislature
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- Reported from Commerce and Labor — **22–0** (pass) · legislature
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## Sponsors
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- Richard H. Stuart — primary (person)
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## Timeline
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The legislative action history — every referral, reading, and vote.
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- **2018-01-05** Prefiled and ordered printed; offered 01/10/18 18102236D `introduction`
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- **2018-01-05** Referred to Committee on Commerce and Labor `referral-committee`
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- **2018-01-25** Read second time and engrossed `reading-2`
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- **2018-01-31** Placed on Calendar
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- **2018-01-31** Read first time `reading-1`
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- **2018-01-31** Referred to Committee on Commerce and Labor `referral-committee`
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- **2018-02-19** Read second time `reading-2`
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- **2018-02-20** Read third time `reading-3`
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- **2018-02-20** Passed House BLOCK VOTE (100-Y 0-N) `passage`
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- **2018-02-22** Enrolled
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- **2018-02-22** Signed by Speaker
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- **2018-02-23** Signed by President
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- **2018-02-26** Enrolled Bill Communicated to Governor on February 26, 2018
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- **2018-02-26** Governor's Action Deadline Midnight, March 5, 2018
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- **2018-03-02** Approved by Governor-Chapter 76 (effective 7/1/18) `executive-signature`
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## Source
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OpenStates / OpenCivicData bulk snapshot [2026-07-01](https://data.openstates.org/daily/2026-07-01/public.pgdump); origin `ocd-bill/81aed316-c945-435d-a4ec-8c8534ac445f`. Confidence: reported (aggregated from official Virginia legislature records).
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