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Legislation


1997 Regular Session

SENATE BILL 633

CHAPTER NUMBER: 608 File Code: Estates and Trusts Crossfiled with: HOUSE BILL 1103
Sponsored By:
Senator Stone
Entitled:
Estates and Trusts - Stock Distributions

Synopsis:

Establishing that, for purposes of determining income and principal of a trust, a stock distribution or spin-off of shares of stock of a corporation that had been owned or acquired by the distributing corporation is principal.

Legislative History

Senate Action
1/31
First Reading Judicial Proceedings
2/5
Hearing 2/27 at 1:00 p.m.
3/10
Favorable Report by Judicial Proceedings
3/11
Favorable Report Adopted
Second Reading Passed
3/13
Third Reading Passed (47-0)
3/31
Returned Passed
5/22
Signed by the Governor Chapter 608
House Action
3/14
First Reading Judiciary
3/18
Hearing 3/26 at 1:00 p.m.
3/27
Favorable Report by Judiciary
3/25
Favorable Report Adopted
Second Reading Passed
3/27
Third Reading Passed (134-0)
Bill indexed under the following Subjects:
ESTATES AND TRUSTS -see also- FIDUCIARIES
SECURITIES
Bill affects the following Statute:
Estates and Trusts
( 14-205 )

Documents:

Bill Text:
First Reading (PDF), Third Reading (PDF), Enrolled
Fiscal Note: Available (PDF)
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