# Delaware SB 327: AN ACT TO AMEND TITLE 5 AND TITLE 12 OF THE DELAWARE CODE RELATING TO FAMILY TRUST COMPANIES. Delaware SB 327, AN ACT TO AMEND TITLE 5 AND TITLE 12 OF THE DELAWARE CODE RELATING TO FAMILY TRUST COMPANIES., is a 153rd General Assembly (2024–2026) Senate bill sponsored by Spiros Mantzavinos (Democratic); status signed, last action 2026-07-13 (Signed by Governor) (as of 2026-10-19). - Canonical: https://policyrisk.com/state-bill/DE-SB327-153 - As of: 2026-10-19 - Plain-text twin of the page above; the HTML and this file carry the same facts. ## Facts - Bill: Delaware SB 327 - State: Delaware - Session: 153rd General Assembly (2024–2026) - Title: AN ACT TO AMEND TITLE 5 AND TITLE 12 OF THE DELAWARE CODE RELATING TO FAMILY TRUST COMPANIES. - Status: signed - Chamber: Senate - Introduced: 2026-05-19 - Last action: 2026-07-13, Signed by Governor - Sponsor: Spiros Mantzavinos (Democratic) - Cosponsors: 5 - Touches household money: no - Roll calls: 2 (61 yes, 0 no in all) - Economic provisions PRIA read: 9 ## Summary No summary available. ## Bill overview: provisions PRIA read - Family trust records gain privacy protections: benefit, low. Applications, personal and financial records, examination documents, and other private family trust information are confidential. Authorized staff and agencies with jurisdiction can receive records; other disclosures require a finding that public interest outweighs privacy. Public-interest disclosu… - Trust companies gain new conversion paths: benefit, low. Foreign family trust companies and limited purpose trust companies can convert to Delaware family trust companies. Delaware family trust companies can also convert to limited purpose trust companies. Applicants must follow applicable conversion laws, submit approved plans and governing documents, a… - Family trust companies must carry insurance: cost, low. Every family trust company must maintain a bond covering director, officer, and employee dishonesty of at least $1 million. Companies subject to the law's minimum capital rules must also maintain general liability and errors and omissions insurance. That coverage must be at least $5 million per occ… - Family trust companies pay license fees: cost, low. Family trust companies pay an initial license fee of $5,000 to $25,000 before they can begin business. Later annual fees are also $5,000 to $25,000, due by January 30. No separate annual fee is due in the year the initial fee was paid. Outside the initial allowance, designated-relative additions or… - Family trustees get fee filing relief: mixed, low. Family trust companies do not have to file trustee pay schedules or formulas with the Register in Chancery. If they do not file, they also avoid the related requirement to provide a schedule to specified trust parties. The related rule for calculating pay from a filed schedule does not apply to tho… - Families gain a limited trust company option: mixed, low. Delaware corporations and limited liability companies can become family trust companies, with one designated relative defining the eligible family group. They can serve qualifying relatives, family entities, trusts, estates, and charities, but cannot serve or seek business from the public. Organize… - Family trust capital requirements have safeguards: mixed, low. Family trust companies must hold $250,000 in capital stock and at least $125,000 in paid-in surplus. Requirements above $375,000 need findings that operations would otherwise be unsafe or that family members need protection. Requirements above $1 million need extraordinary circumstances; additional… - Family trust offices face operating limits: mixed, low. Family trust companies must keep one physical Delaware office, accessible records, a qualified trust officer, and needed staff or services. They can open offices outside Delaware, including abroad, subject to the state's outside-office rules and capital exceptions. Their powers are limited to trust… - Family trust oversight balances fees and burdens: mixed, low. The State Bank Commissioner can examine family trust companies on-site or review records sent from the company. Companies pay the examination fee set under existing banking law for each authorized examination. Rules and examination standards must reflect family-company risks, and examinations must… ## Sponsors and cosponsors - Sponsor: Spiros Mantzavinos (Democratic), Senate - Cosponsor: William Bush (Democratic), House - Cosponsor: William J. Carson (Democratic), House - Cosponsor: Kerri Evelyn Harris (Democratic), House - Cosponsor: Brian Pettyjohn (Republican), Senate - Cosponsor: Jeffrey N. Spiegelman (Republican), House ## Roll call votes | Date | Chamber | Motion | Result | Yes | No | Other | | --- | --- | --- | --- | --- | --- | --- | | 2026-06-18 | House | Passed (3/4 required) | pass | 41 | 0 | | | 2026-06-09 | Senate | Passed (2/3 required) | pass | 20 | 0 | | ## Actions (7) - 2026-07-13: Signed by Governor (Governor) - 2026-06-18: Passed By House. Votes: 41 YES (House) - 2026-06-16: Reported Out of Committee (Economic Development/Banking/Insurance & Commerce) in House with 8 On Its Merits (House) - 2026-06-10: Assigned to Economic Development/Banking/Insurance & Commerce Committee in House (House) - 2026-06-09: Passed By Senate. Votes: 20 YES 1 ABSENT (Senate) - 2026-05-20: Reported Out of Committee (Banking, Business, Insurance & Technology) in Senate with 1 Favorable, 6 On Its Merits (Senate) - 2026-05-19: Introduced and Assigned to Banking, Business, Insurance & Technology Committee in Senate (Senate) ## Bill text - Current, 2026-05-19: [HTML](https://legis.delaware.gov/json/BillDetail/GenerateHtmlDocument?legislationId=143356&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=143356&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-SB327-153 (as of 2026-10-19).