HOUSE BILL 985

Sponsored By:

Delegates Dembrow and Finifter

Entitled:

Estates and Trusts - Duties of Trustee

Synopsis:

Limiting the duties of a trustee regarding the acquisition, retention, or ownership of a contract of life insurance on the life of the grantor of the trust or on the lives of the grantor and the grantor's spouse, children, or grandchildren; and applying the Act to trusts existing on or after the effective date of the Act.

Legislative History

House Action

1/31

First Reading Judiciary

2/5

Hearing 2/21 at 1:00 p.m.

2/24

Favorable with Amendments Report by Judiciary

2/25

Favorable with Amendments Report Adopted

Special Order 2/26 (Delegate Brinkley) Adopted

2/26

Second Reading Passed with Amendments

2/28

Third Reading Passed (135-0)

3/30

Returned Passed

5/22

Governor vetoed - Cross-filed bill was signed

Senate Action

3/3

First Reading Judicial Proceedings

3/31

Favorable Report by Judicial Proceedings

4/1

Favorable Report Adopted

Second Reading Passed

4/2

Third Reading Passed (47-0)

Sponsored by:

Delegate Dana Lee Dembrow, District 20

Delegate Michael J. Finifter, District 11

Bill indexed under the following Subjects:

ESTATES AND TRUSTS -see also- FIDUCIARIES

INSURANCE -see also- HEALTH INSURANCE; MOTOR VEHICLE INS

Bill affects the following Statute:

Estates and Trusts

( 15-115 )

Documents:

Bill Text:

First Reading (PDF), Third Reading (PDF), Enrolled

Fiscal Note: Available (PDF)

Amendments:

House

Number: 491685/1 (PDF) Offered on: FEBRUARY 25, 1997 at: 10:40 Status: Adopted