Delaware legislation · 153rd General Assembly
Delaware SB327: Trust Company Charter/Create
Status: Signed into law, July 13, 2026
AN ACT TO AMEND TITLE 5 AND TITLE 12 OF THE DELAWARE CODE RELATING TO FAMILY TRUST COMPANIES.
What the bill says
An act to amend title 5 and title 12 of the delaware code relating to family trust companies.
From the introduced text, May 19, 2026:
AN ACT TO AMEND TITLE 5 AND TITLE 12 OF THE DELAWARE CODE RELATING TO FAMILY TRUST COMPANIES. Section 1. Amend Title 5 of the Delaware Code by making deletions as shown by strike through and insertions as shown by underline: Subchapter IX. Family Trust Companies § 797. Short title. This Act is entitled and may be cited as the "Family Trust Company Act." § 797A. Definitions. As used in this subchapter: (1) "Adviser" means a person considered to be an adviser under § 3313 of Title 12. (2) "Affiliate" means a family affiliate of any family member and any person controlling, controlled by or under common control with the family trust company. (3) "Charitable" means having as one or more of its purposes or activities, or both, that would qualify an organization or trust as exempt from federal income taxation under 26 U.S.C. §§ 501(c)(1) through (c)(7) of the Internal Revenue Code, whether or not the organization or trust actually avails itself of such exemption or obtains administrative confirmation thereof. (4) "Collateral kinship" means a relationship that is not lineal but stems from a common ancestor. Degrees of collateral kinship are calculated by adding the number of steps from the designated relative (or other specified person) through the common ancestor to the family member. (5) "Confidential information" means any …
Sponsors
- Spiros Mantzavinos (D, 7) · primary sponsor
- Brian Pettyjohn (R, 19)
- William Bush (D, 29)
- Jeffrey Spiegelman (R, 11)
- William Carson (D, 28)
- Kerri Harris (D, 32)
Latest actions
- : Signed by Governor
- : Passed By House. Votes: 41 YES
- : Reported Out of Committee (Economic Development/Banking/Insurance & Commerce) in House with 8 On Its Merits
- : Assigned to Economic Development/Banking/Insurance & Commerce Committee in House
- : Passed By Senate. Votes: 20 YES 1 ABSENT
- : Reported Out of Committee (Banking, Business, Insurance & Technology) in Senate with 1 Favorable, 6 On Its Merits
- : Introduced and Assigned to Banking, Business, Insurance & Technology Committee in Senate
Votes
- Passed (3/4) (June 18, 2026): 41 yea, 0 nay, passed
- Passed (2/3) (June 9, 2026): 20 yea, 0 nay, passed
Common questions
- What is SB327?
- SB327 is a bill in the Delaware Legislature (153rd General Assembly): Trust Company Charter/Create.
- What does SB327 do?
- In its own words: An act to amend title 5 and title 12 of the delaware code relating to family trust companies.
- What is the status of SB327?
- Signed into law as of July 13, 2026. Latest action: Signed by Governor (July 13, 2026).
- Who sponsored SB327?
- Spiros Mantzavinos (D, 7), with 5 co-sponsors.
- Where is the official record for SB327?
- On the Delaware Legislature website: https://legis.delaware.gov/BillDetail?LegislationId=143356
Source: official Delaware record. Tracked by Delilah, AI for legislation across all 50 states and Congress.