# Delaware HB 298: AN ACT TO AMEND TITLE 12 OF THE DELAWARE CODE RELATING TO THE CREATION, REGULATION, OPERATION, AND DISSOLUTION OF STATUTORY TRUSTS. Delaware HB 298, AN ACT TO AMEND TITLE 12 OF THE DELAWARE CODE RELATING TO THE CREATION, REGULATION, OPERATION, AND DISSOLUTION OF STATUTORY TRUSTS., is a 153rd General Assembly (2024–2026) House bill sponsored by William Bush (Democratic); status signed, last action 2026-06-24 (Signed by Governor) (as of 2026-10-19). - Canonical: https://policyrisk.com/state-bill/DE-HB298-153 - As of: 2026-10-19 - Plain-text twin of the page above; the HTML and this file carry the same facts. ## Facts - Bill: Delaware HB 298 - State: Delaware - Session: 153rd General Assembly (2024–2026) - Title: AN ACT TO AMEND TITLE 12 OF THE DELAWARE CODE RELATING TO THE CREATION, REGULATION, OPERATION, AND DISSOLUTION OF STATUTORY TRUSTS. - Status: signed - Chamber: House - Introduced: 2026-03-05 - Last action: 2026-06-24, Signed by Governor - Sponsor: William Bush (Democratic) - Cosponsors: 6 - Touches household money: no - Roll calls: 2 (57 yes, 0 no in all) - Economic provisions PRIA read: 7 ## Summary No summary available. ## Bill overview: provisions PRIA read - Clearer amendment voting rules for trusts: benefit, low. Beginning August 1, 2026, a trust’s higher-vote amendment rule applies only to provisions expressly included in its governing document. The governing document can provide otherwise. The law also recognizes amendments allowed through other legal routes, including mergers and divisions. - More flexible control approvals for investors: benefit, low. Beginning August 1, 2026, trust control approvals or exemptions can occur before, during, or after an acquisition. They must come from the trust’s governing document or trustee action. Unless stated otherwise, an approval or exemption covers all interests acquired at any time within its voting-powe… - More liability protection for trust advisers: benefit, low. Beginning August 1, 2026, advisers acting in that role gain protection from personal liability for trust or trustee acts, omissions, and obligations. The protection applies to claims by outsiders, not the trust, its trustees, or its beneficial owners. The trust’s governing document can set a differ… - Vote holders avoid some control counting: benefit, low. Beginning August 1, 2026, holders of interests for others are not counted as controlling votes they cannot direct without unaffiliated instructions. They must act in the ordinary course of business, in good faith, and not to evade the rule. Trustees decide whether those conduct requirements are met… - Binding investment commitments for trust investors: cost, low. Beginning August 1, 2026, an agreement to buy a Delaware statutory trust interest is binding to the extent its terms say it cannot be withdrawn. This applies to written, electronic, and other legally permitted submissions. - Trust investors face revised control limits: mixed, low. Beginning August 1, 2026, trust control rules cover direct or indirect acquisitions of ownership or voting power that create control interests. Voting-power ranges are 10%–under 15%, 15%–under 20%, 20%–under 25%, 25%–under 30%, 30%–under a majority, and a majority or more; holdings below 10% are ge… - Trust reorganizations get options and duties: mixed, low. Beginning August 1, 2026, a trust surviving a merger can fully rewrite its trust certificate through the merger filing. A trust created by consolidation must attach its trust certificate to the consolidation filing. After a division, trustees must promptly correct contact or plan-location details o… ## Sponsors and cosponsors - Sponsor: William Bush (Democratic), House - Cosponsor: William J. Carson (Democratic), House - Cosponsor: Gerald W. Hocker (Republican), Senate - Cosponsor: Spiros Mantzavinos (Democratic), Senate - Cosponsor: Bryan Townsend (Democratic), Senate - Cosponsor: John "Jack" Walsh (Democratic), Senate - Cosponsor: David L. Wilson (Republican), Senate ## Roll call votes | Date | Chamber | Motion | Result | Yes | No | Other | | --- | --- | --- | --- | --- | --- | --- | | 2026-06-09 | Senate | Passed (SM required) | pass | 20 | 0 | | | 2026-03-24 | House | Passed (SM required) | pass | 37 | 0 | | ## Actions (7) - 2026-06-24: Signed by Governor (Governor) - 2026-06-09: Passed By Senate. Votes: 20 YES 1 ABSENT (Senate) - 2026-05-13: Reported Out of Committee (Banking, Business, Insurance & Technology) in Senate with 3 Favorable, 4 On Its Merits (Senate) - 2026-03-24: Assigned to Banking, Business, Insurance & Technology Committee in Senate (Senate) - 2026-03-24: Passed By House. Votes: 37 YES 4 ABSENT (House) - 2026-03-17: Reported Out of Committee (Economic Development/Banking/Insurance & Commerce) in House with 10 On Its Merits (House) - 2026-03-05: Introduced and Assigned to Economic Development/Banking/Insurance & Commerce Committee in House (House) ## Bill text - Current, 2026-03-05: [HTML](https://legis.delaware.gov/json/BillDetail/GenerateHtmlDocument?legislationId=142881&legislationTypeId=1&docTypeId=2) ## Related bills - HS 1 for HB 449: AN ACT TO AMEND TITLE 24 OF THE DELAWARE CODE RELATING TO THE DIETITIAN/NUTRITIONIST LICENSURE ACT. (passed house) - HB 357: AN ACT TO AMEND TITLES 10 AND 13 OF THE DELAWARE CODE RELATING TO THE DUTY TO SUPPORT POOR PERSONS. (signed) - SB 231: AN ACT TO AMEND TITLE 14 OF THE DELAWARE CODE RELATING TO SCHOOL SOCIAL WORKERS. (vetoed) - SB 279: AN ACT TO AMEND TITLE 14 OF THE DELAWARE CODE RELATING TO SCHOOL-BASED OCCUPATIONAL THERAPISTS. (vetoed) - HB 393: AN ACT TO AMEND TITLE 26 OF THE DELAWARE CODE RELATING TO PROTECTIONS FOR PUBLIC UTILITY CONSUMERS. (vetoed) - HB 356: AN ACT TO AMEND TITLE 16 OF THE DELAWARE CODE RELATING TO PFAS IN FIREFIGHTING FOAM AND EQUIPMENT. (failed) ## Sources - [Current (HTML)](https://legis.delaware.gov/json/BillDetail/GenerateHtmlDocument?legislationId=142881&legislationTypeId=1&docTypeId=2) ## Related - [HS 1 for HB 449: AN ACT TO AMEND TITLE 24 OF THE DELAWARE CODE RELATING TO THE DIETITIAN/NUTRITI…](https://policyrisk.com/state-bill/DE-HS1FORHB449-153) - [HB 357: AN ACT TO AMEND TITLES 10 AND 13 OF THE DELAWARE CODE RELATING TO THE DUTY TO S…](https://policyrisk.com/state-bill/DE-HB357-153) - [SB 231: AN ACT TO AMEND TITLE 14 OF THE DELAWARE CODE RELATING TO SCHOOL SOCIAL WORKERS.](https://policyrisk.com/state-bill/DE-SB231-153) - [SB 279: AN ACT TO AMEND TITLE 14 OF THE DELAWARE CODE RELATING TO SCHOOL-BASED OCCUPATI…](https://policyrisk.com/state-bill/DE-SB279-153) - [HB 393: AN ACT TO AMEND TITLE 26 OF THE DELAWARE CODE RELATING TO PROTECTIONS FOR PUBLI…](https://policyrisk.com/state-bill/DE-HB393-153) - [HB 356: AN ACT TO AMEND TITLE 16 OF THE DELAWARE CODE RELATING TO PFAS IN FIREFIGHTING…](https://policyrisk.com/state-bill/DE-HB356-153) - [Delaware bills](https://policyrisk.com/states/delaware/bills) - [Delaware state hub](https://policyrisk.com/states/delaware) - [All state legislation](https://policyrisk.com/state-bills) Source: PRIA, https://policyrisk.com/state-bill/DE-HB298-153 (as of 2026-10-19).