HB 13 Virginia House of Delegates · 2020 Regular Session

Condominium association funds; fiduciary management, permissible investments.

Summary

Fiduciary management of condominium associationfunds; permissible investments. Authorizes the fiduciary managingagent of a condominium association to invest managed funds in UnitedStates securities or maintain a limited amount of managed funds ina money market account that invests in United States securities orother financial instruments guaranteed by securities of the UnitedStates. Under current law, a fiduciary managing agent may only keep association funds in a trust account in a federally insured financial institution.

Bill status in committee 3 of 5 stages cleared

Introduction

Nov 2019

Committee Review

Feb 2020

House of Delegates Passage

Feb 2020

Senate Passage

Governor

Introduced Nov 19, 2019 Last action Feb 6, 2020

Floor votes · House of Delegates Feb 6, 2020

How they voted

20–1

Passed · 1 other

Total votes 22

Feb 6, 2020

D Democratic13

13 Yea

100% Yea

R Republican9

7 Yea 1 Nay 1

77% Yea

Vote distribution

All Yea All Nay Mixed No data

Full legislative history

Actions timeline

Total actions

Key actions

Committee

Feb 6, 2020

Lower · Passed

Subcommittee recommends striking from docket (8-Y 0-N)

lower

Feb 6, 2020

House Of Delegates · Passed

House of Delegates Vote: pass (20-1-1)

house of delegates

Jan 15, 2020

Committee

Assigned GL sub: Housing/Consumer Protection

lower

Nov 19, 2019

Committee

Referred to Committee on General Laws

lower

Nov 19, 2019

Introduced

Prefiled and ordered printed; offered 01/08/20 20100062D

lower

1 primary · 0 co-sponsors