Fabio
85 lines
4.8 KiB
Markdown
85 lines
4.8 KiB
Markdown
---
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type: "Bill"
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title: "Banks; trust subsidiaries."
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description: "Banks; trust subsidiaries. Establishes amechanism by which a subsidiary bank of a Virginia bank holding companythat holds trust powers may be substituted in every fiduciary capacityfor a trust subsidiary under common ownership with that bank. Suchmechanism follows the existing procedures by which (i) a subsidiarybank may be substituted as fiduciary for another bank under commonownership and (ii) a trust subsidiary may be substituted as fiduciaryfor an owning or affiliated bank. In each case, the determinationas to whether the application for substitution will be granted is made by the circuit court of the jurisdiction in which the main officeof the petitioning bank or trust subsidiary is located."
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jurisdiction: "us/states/va"
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legislature: "Virginia General Assembly"
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session: "2020"
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identifier: "HB 155"
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citation: "Virginia HB 155 (2020)"
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classification: ["bill"]
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subjects: []
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status: "enacted"
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primary_sponsors: ["Mark D. Sickles"]
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version_count: 3
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action_count: 22
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vote_count: 5
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first_action: "2019-12-20"
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last_action: "2020-03-10"
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source: "openstates"
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source_identifier: "ocd-bill/7310e766-f85d-4d6b-a6c6-120ded6cbaa3"
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source_url: "https://lis.virginia.gov/cgi-bin/legp604.exe?201+sum+HB155"
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source_hash: "a03fe1bede9641e82342418594e19314f1855aa07dd3f8295ad71625670479e9"
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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 HB 155 (2020) — Banks; trust subsidiaries.
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Banks; trust subsidiaries. Establishes amechanism by which a subsidiary bank of a Virginia bank holding companythat holds trust powers may be substituted in every fiduciary capacityfor a trust subsidiary under common ownership with that bank. Suchmechanism follows the existing procedures by which (i) a subsidiarybank may be substituted as fiduciary for another bank under commonownership and (ii) a trust subsidiary may be substituted as fiduciaryfor an owning or affiliated bank. In each case, the determinationas to whether the application for substitution will be granted is made by the circuit court of the jurisdiction in which the main officeof the petitioning bank or trust subsidiary is located.
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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. **Acts of Assembly Chapter text (CHAP0239)** (committee substitute) — [source](https://lis.virginia.gov/cgi-bin/legp604.exe?201+ful+CHAP0239)
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2. **Bill text as passed House and Senate (HB155ER)** (committee substitute) — [source](https://lis.virginia.gov/cgi-bin/legp604.exe?201+ful+HB155ER)
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3. **Impact statement from SCC (HB155)** (committee substitute) — [source](https://lis.virginia.gov/cgi-bin/legp604.exe?201+ful+HB155)
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## Votes
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- Constitutional reading dispensed (39-Y 0-N) — **39–0** (pass) · upper
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- Passed Senate (40-Y 0-N) — **40–0** (pass) · upper
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- Reported from Labor and Commerce (20-Y 0-N) — **20–0** (pass) · lower
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- VOTE: (98-Y 0-N) — **97–0** (pass) · lower
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- Reported from Commerce and Labor (15-Y 0-N) — **15–0** (pass) · upper
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## Sponsors
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- Mark D. Sickles — primary (person)
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## Timeline
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The legislative action history — every referral, reading, and vote.
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- **2019-12-20** Prefiled and ordered printed; offered 01/08/20 20101596D `introduction`
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- **2019-12-20** Referred to Committee on Labor and Commerce `referral-committee`
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- **2020-01-07** Impact statement from SCC (HB155)
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- **2020-01-23** Reported from Labor and Commerce (20-Y 0-N) `committee-passage`
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- **2020-01-27** Read first time `reading-1`
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- **2020-01-28** Passed by temporarily
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- **2020-01-28** Read second time and engrossed `reading-2`
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- **2020-01-29** Read third time and passed House BLOCK VOTE (98-Y 0-N) `passage, reading-3`
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- **2020-01-29** VOTE: (98-Y 0-N)
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- **2020-01-30** Constitutional reading dispensed
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- **2020-01-30** Referred to Committee on Commerce and Labor `referral-committee`
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- **2020-02-17** Reported from Commerce and Labor (15-Y 0-N) `committee-passage`
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- **2020-02-19** Constitutional reading dispensed (39-Y 0-N)
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- **2020-02-20** Read third time `reading-3`
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- **2020-02-20** Passed Senate (40-Y 0-N) `passage`
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- **2020-02-25** Enrolled
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- **2020-02-25** Impact statement from SCC (HB155ER)
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- **2020-02-25** Signed by Speaker
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- **2020-02-26** Signed by President
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- **2020-03-03** Enrolled Bill communicated to Governor on March 3, 2020
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- **2020-03-03** Governor's Action Deadline 11:59 p.m., March 10, 2020
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- **2020-03-10** Approved by Governor-Chapter 239 (effective 7/1/20) `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/7310e766-f85d-4d6b-a6c6-120ded6cbaa3`. Confidence: reported (aggregated from official Virginia legislature records).
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