WV LEG Trust Electronic Execution
On Mar. 8, WV LEG bill on electronic execution of trust agreements.
- WV LEG passed HB 5561 relating to permitting the electronic execution of trusts.
- Provisions amended several sections of the Uniform trust code (WV LEG 44D).
- Bill Provisions
- Amendments permitted the electronic execution of trusts and defined related terms.
- Further, clarified that a trust instrument may be executed in an electronic format.
- Bill provisions clarified inapplicability to wills unless duly admitted to probate.
- Legislative History
- On Feb. 12, 2024, bill was introduced in House; on Feb. 23, 2024, bill passed House.
- On Mar. 6, 2024, bill was introduced in Senate; on Mar. 8, 2024, bill passed Senate.
- Effectiveness
- Upon legislative approval, the provisions of HB 5561 will become effective in 90 days.
- Mar. 26, 2024 WV LEG Governor Approval
- On Mar. 26, 2024, WV LEG governor approved bill, becomes effective Jun. 6, 2024.
| Regulators |
WV LEG
|
| Entity Types |
Bank; Fiduciary; Thrift |
| Reference |
Bill, 3/26/2024; Bill HB5561, 3/8/2024; Citation: WV LEG 44D; |
| Functions |
Compliance; Legal; Operations; Technology |
| Countries |
United States of America |
| Category |
|
| State |
|
| Products |
Banking; Custody; Wealth Mgt |
| Regions |
Am |
| Rule Type |
Final |
| Rule Date |
3/8/2024 |
| Effective Date |
6/6/2024 |
| Rule Id |
204169 |
| Linked to |
N/A
|
| Reg. Last Update |
3/26/2024 |
| Report Section |
US Banking |
Last substantive update on 04/01/2024
