Fabio
76 lines
3.7 KiB
Markdown
76 lines
3.7 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: "HB 789"
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citation: "Virginia HB 789 (2018)"
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classification: ["bill"]
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subjects: []
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status: "enacted"
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primary_sponsors: ["Mark L. Keam"]
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version_count: 2
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action_count: 14
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vote_count: 5
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first_action: "2018-01-09"
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last_action: "2018-03-09"
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source: "openstates"
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source_identifier: "ocd-bill/86327440-646a-4a1a-879d-08dbd0b6acf5"
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source_url: "http://lis.virginia.gov/cgi-bin/legp604.exe?181+sum+HB789"
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source_hash: "4c980388087205513ff8aeea5ae5af94a85ac3f5bb6efdf1f201c8d2fbfc3315"
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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 789 (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. **House: Bill text as passed House and Senate (HB789ER)** (committee substitute) — [source](http://lis.virginia.gov/cgi-bin/legp604.exe?181+ful+HB789ER)
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2. **House: Prefiled and ordered printed; offered 01/10/18 18102279D** (committee substitute) — [source](http://lis.virginia.gov/cgi-bin/legp604.exe?181+ful+HB789)
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## Votes
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- Constitutional reading dispensed — **40–0** (pass) · legislature
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- Passed Senate — **40–0** (pass) · legislature
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- Reported from Commerce and Labor — **11–0** (pass) · legislature
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- Read third time and passed House BLOCK VOTE — **98–0** (pass) · legislature
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- Reported from Commerce and Labor — **22–0** (pass) · legislature
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## Sponsors
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- Mark L. Keam — primary (person)
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## Timeline
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The legislative action history — every referral, reading, and vote.
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- **2018-01-09** Prefiled and ordered printed; offered 01/10/18 18102279D `introduction`
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- **2018-01-09** Referred to Committee on Commerce and Labor `referral-committee`
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- **2018-01-22** Read first time `reading-1`
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- **2018-01-23** Read second time and engrossed `reading-2`
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- **2018-01-24** Read third time and passed House BLOCK VOTE (98-Y 0-N) `passage, reading-3`
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- **2018-01-25** Constitutional reading dispensed
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- **2018-01-25** Referred to Committee on Commerce and Labor `referral-committee`
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- **2018-02-22** Read third time `reading-3`
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- **2018-02-26** Enrolled
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- **2018-02-26** Signed by Speaker
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- **2018-02-28** Signed by President
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- **2018-03-02** Enrolled Bill communicated to Governor on March 2, 2018
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- **2018-03-02** Governor's Action Deadline Midnight, March 9, 2018
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- **2018-03-09** Approved by Governor-Chapter 262 (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/86327440-646a-4a1a-879d-08dbd0b6acf5`. Confidence: reported (aggregated from official Virginia legislature records).
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