2006 Regular Session

SENATE BILL 762

File Code: Estates and Trusts Crossfiled with: HOUSE BILL 645
Sponsored By:
Senator Garagiola
Entitled:
Estates and Trusts - Fiduciaries - Directions from Advisors

Synopsis:

Establishing that, unless the governing instrument provides otherwise, a specified advisor is a fiduciary when exercising a specified authority; establishing that, except in a case of willful misconduct or gross negligence by a fiduciary, if the governing instrument provides that the fiduciary is to follow the direction of an advisor, the fiduciary is not liable for a loss resulting directly or indirectly from an act by the fiduciary made in accordance with the direction of the advisor; etc.

History by Legislative Date

Senate Action
2/3
First Reading Judicial Proceedings
2/8
Hearing 2/14 at 1:00 p.m.
2/27
Favorable Report by Judicial Proceedings
2/28
Favorable
Special Order 3/2 (Senator Della) Adopted
3/2
Favorable Report Adopted
Floor Amendment (Senator Della) Adopted
Second Reading Passed with Amendments
3/6
Third Reading Passed (40-7)
House Action
3/7
First Reading Judiciary
3/22
Hearing 3/29 at 1:00 p.m.

Bill indexed under the following Subjects:

ESTATES AND TRUSTS
FIDUCIARIES
INVESTMENTS -see also- SECURITIES
LIABILITY -see also- GOOD SAMARITAN

Bill affects the following Statute:

Estates and Trusts
( 15-114.1 )

Documents:

Bill Text (Displayed in PDF Format): First Reading, Third Reading, Enrolled
Fiscal Note (Displayed in PDF Format): Available
Amendments (Displayed in WordPerfect 8 Format):
Senate
Number: 053627/01 (PDF)     Offered on: March 2, 2006   at: 10:51 a.m.     Status: Adopted
Roll Call Votes (Legislative dates are shown):
Senate
March 6, 2006: Third Reading Passed (40-7)